Ultra Petroleum prices $450M senior note offering

Ultra Petroleum Corp.

Ultra Petroleum Corp. (NYSE: UPL) has reported on the pricing of its private placement of $450 million aggregate principal amount of 5.75% senior unsecured notes due 2018 at par. The size of the offering was increased from the previously announced $400 million aggregate principal amount.

The company expects to close the offering on Dec. 12. Ultra intends to use the net proceeds to fund a portion of the purchase price of its recently announced Uinta Basin acquisition.

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