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Gastar Prices $200MM Senior Notes Offering

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May 10, 2013

Gastar Exploration USA, a subsidiary of Gastar Exploration Ltd. (NYSE: GST), priced the offer of US $200 million aggregate principal amount of senior secured notes due 2018 in a private placement to eligible purchasers at par.

Net proceeds will be used to (i) finance the purchase price for its separately announced pending acquisition of Mid-Continent assets from Chesapeake Energy Corp. (NYSE: CHK), repurchase some 6.8 million shares of the parent's common stock held by Chesapeake and settle all current litigation with Chesapeake, (ii) repay in full outstanding borrowings under its ...

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