Whiting Petroleum Corp. (NYSE: WLL) completed its private offering to eligible purchasers of $400 million 5.75% senior notes due 2021.
The notes were priced at a premium of 101.000% of par. The notes are unsecured and unconditionally guaranteed by Whiting’s wholly owned subsidiary, Whiting Oil and Gas Corp.
Whiting received $399.3 million in net proceeds, after deducting the initial purchaser discount and commissions and estimated offering expenses payable by Whiting and excluding accrued and unpaid interest. Net proceeds will be used for general corporate purposes, including capital expenditures.
These notes ...