Northern Oil & Gas Plans $500M Offering

By Bobby Samwell • Wednesday, August 19 13:03 • Permanent Link

Northern Oil and Gas said it plans to raise $500 million through a private offering of senior notes due 2034.

The company said it expects to use the proceeds to repay part of the borrowings on its revolving credit facility, with any remaining funds going to general corporate purposes.

The new notes would add to the company’s debt stack with a 2034 maturity, extending its borrowing profile by eight years from the current offering date. The company did not disclose the coupon, pricing, or expected closing date in the release.

Northern Oil and Gas described the offering as a private sale to eligible institutional and non-U.S. buyers. Today the company's shares have moved 2.99% to a price of $26.15. Check out the company's full 8-K submission here.

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