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Aurora Ups Eagle Ford-Focused Offering to $300MM

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Aurora Ups Eagle Ford-Focused Offering to $300MM

Aurora Oil & Gas Limited has reported that the size of the previously announced proposed offering by its wholly-owned subsidiary, Aurora USA Oil & Gas, Inc. of US$250 million aggregate principal amount of senior unsecured notes due 2020 has been increased to US$300 million. 

The Notes will be issued at par and bear interest at 7.50% per annum, payable semi-annually in arrears, beginning October 1, 2013. The offering is expected to close on March 21, 2013 , subject to customary closing conditions. 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 Note offering primarily to fund the purchase price of US$117.5 million (subject to…

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