Debt | Capital Markets
Aurora Closes $300 Million Offering
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Aurora Oil & Gas Limited has closed the previously announced offering by its wholly owned subsidiary, Aurora USA Oil & Gas Inc., of US$300 million aggregate principal amount of senior unsecured notes due 2020.
The Notes were issued at par and bear interest at 7.50% per annum payable semi-annually in arrears, beginning October 1, 2013 . The Notes will be issued as senior unsecured obligations of the Issuer, and will be guaranteed by Aurora and each of the subsidiaries of the Issuer.
Aurora intends to use the net proceeds from the proposed Notes offering of approximately US$293 million primarily to fund the purchase price of US$117.5 million (subject to customary adjustments) for the asset acquisition announced on February 28, 2013 .
In addition, the net proceeds will be used, together…
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