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Aurora to Hold Private Offering to Fund Eagle Ford Holdings

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Aurora to Hold Private Offering to Fund Eagle Ford Holdings

Aurora Oil & Gas Limited has announced plans to commence, subject to market and other customary conditions, a private offering of up to US$250 million in aggregate principal amount of senior unsecured notes due in 2020. 

The Notes will be issued by a wholly owned subsidiary of Aurora 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 customary adjustments) for the asset acquisition announced on February 28 , 2013. 

In addition, the net proceeds will be used, together with operational cashflow and funds available from the existing senior credit facility, to fund the development…

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