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Triangle USA Petroleum Offers Senior Notes

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July 10, 2014

Triangle Petroleum Corp. (NYSE MKT: TPLM) said July 9 that its wholly owned subsidiary, Triangle USA Petroleum Corp., offered $350 million, in aggregate principal amount, of senior notes due 2022 in a private placement.

The exploration and production-focused subsidiary will use the net proceeds to pay down and “terminate” its second-lien credit facility, Triangle Petroleum said. They will also be used to reimburse Triangle Petroleum for loans of capital to Triangle USA, in connection with the closing of Williston Basin acquisitions, the company said. They will also repay part of ...

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