Kodiak closes private offering of senior notes

Kodiak Oil & Gas Corp.

Kodiak Oil & Gas Corp. (NYSE: KOG) has closed its private offering of $400 million in aggregate principal amount of senior notes due 2022 in a private placement to eligible investors. The notes bear interest at 5.50% per annum and were issued at a price of 100% of their face amount. 

The notes were issued pursuant to an indenture entered into on July 26 among Kodiak; Kodiak Oil & Gas (USA) Inc.; Kodiak Williston LLC; and KOG Finance LLC (together with Kodiak USA and Kodiak Williston, the "Subsidiaries"); U.S. Bank National Association, as the trustee; and Computershare Trust Company of Canada, as the Canadian trustee. The notes are jointly and severally guaranteed on a senior unsecured basis by the Subsidiaries.

The net proceeds of the offering, after deducting initial purchasers' discounts and Kodiak’s estimated offering expenses, were approximately $392.5 million. Kodiak intends to use the net proceeds of the offering to pay a portion of the outstanding debt under Kodiak's credit agreement.



Did You Like this Article? Get All the Energy Industry News Delivered to Your Inbox

Subscribe to an email newsletter today at no cost and receive the latest news and information.

 Subscribe Now

Whitepapers

Maximizing Operational Excellence

In a recent survey conducted by PennEnergy Research, 70% of surveyed energy industry professional...

Leveraging the Power of Information in the Energy Industry

Information Governance is about more than compliance. It’s about using your information to drive ...

Reduce Engineering Project Complexity

Engineering document management presents unique and complex challenges. A solution based in Enter...

Revolutionizing Asset Management in the Electric Power Industry

With the arrival of the Industrial Internet of Things, data is growing and becoming more accessib...