Northern Oil and Gas plans to offer $500 million of senior notes due 2034 in a private offering to eligible institutional investors. The company said it intends to use the net proceeds primarily to repay a portion of its outstanding borrowings under its revolving credit facility, with any remaining proceeds earmarked for general corporate purposes. The company did not disclose the interest rate or pricing terms of the notes. The stock price declined about 2.5% on Wednesday pre-market hours.
Northern Oil & Gas IncPlans $500M senior notes offering, likely dilutive or increasing debt, stock fell 2.5% pre-market.
