Northern Oil & Gas Inc. Announces $725 Million Private Offering of Senior Notes Due 2033
Reuters
Sep 22
Northern Oil & Gas Inc. Announces $725 Million Private Offering of Senior Notes Due 2033
Northern Oil & Gas Inc. $(NOG)$ has announced a proposed $725 million private offering of senior notes due 2033. The offering is aimed at eligible purchasers under Rule 144A and Regulation S of the Securities Act of 1933. The company plans to utilize the net proceeds from this offering, along with cash on hand and potential borrowings under its revolving credit facility, to fund the purchase and potential redemption of its outstanding 8.125% Senior Notes due 2028. Additionally, the proceeds will cover all related accrued interest, premiums, fees, and expenses. Any remaining funds will be directed towards general corporate purposes, which could include reducing outstanding borrowings under the company's credit facility. The tender offer for the 2028 Notes is contingent upon the successful completion of this offering.
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