Finance - Debt
The offering is expected to close on April 20, 2018.
Range CFO Roger S. Manny said the renewed and extended credit facility will support the development of the company's assets located in the Marcellus Shale and North Louisiana.
Comstock Resources Inc. has commenced tender offers for its outstanding senior secured notes and a buyback plan for its debt, the company said on April 2.
Tullow Oil Plc has priced its offering of $800 million aggregate principal amount of 7% senior notes due 2025.
ConocoPhillips has commenced a cash tender offer to purchase up to $400 million of its outstanding notes.
Now is a good time to jump in, say experts at Duff & Phelps conference—just be careful.
Under an amended plan, supported by 99% of its bank lenders and about 70% of unsecured creditors, Seadrill will raise $1.08 billion in new capital via the issuance of new secured notes and equity.
Five-year revolving credit in conjunction with closing of acquisitions of Alliance Petroleum and CNX Resources.
Lime Rock’s $1.8 billion “stalking horse” offer tops a $1.6 billion enterprise valuation by Breitburn’s investment bank.
Diamondback said it plans to use all of the net proceeds from the tack-on offering to repay a portion of the outstanding borrowings under its revolving credit facility, which totalled $235 million as of Sept. 30.
Extraction said proceeds will partially be used to fund a tender offer of its $550 million outstanding 2021 notes. Any remaining proceeds will go toward the D-J Basin-focused company's general corporate purposes.