Northern Oil & Gas Plans $500M Private Offering

By Greg Peters • Wednesday, August 19 16:04 • Permanent Link

Northern Oil and Gas said it plans to raise $500 million through a private offering of senior notes due 2034.

The company said it expects to use the proceeds to repay part of the borrowings on its revolving credit facility, with any remainder going toward general corporate purposes.

The offering size is $500 million in aggregate principal amount. The notes will mature in 2034. Northern Oil and Gas said the securities are being sold in a private placement to eligible institutional and non-U.S. buyers. The market has reacted to these announcements by moving the company's shares 2.78% to a price of $26.095. For more information, read the company's full 8-K submission here.

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