Finance & Investing | Fundraising | Capital Markets | Private Equity Activity
Laredo to Offer $350 Million in Senior Notes
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Laredo Petroleum, Inc. intends to publicly offer $350 million in aggregate principal amount of senior unsecured notes due 2023 in a registered underwritten offering.
The Company intends to use the net proceeds of the offering, if completed, together with a portion of the net proceeds from its previously announced common stock offering expected to close on or about March 5, 2015, to redeem all of its 9 1/2% senior notes due 2019. The new senior notes will be senior unsecured obligations of the Company and will be guaranteed on a senior unsecured basis by the Company's existing subsidiaries and all of its future subsidiaries, with certain exceptions.
BofA Merrill Lynch, BMO Capital Markets, Goldman, Sachs & Co., Wells Fargo Securities and Societe Generale have acted as joint book-running managers for the offering.