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Kodiak Oil & Gas Corp. ("Kodiak")
KOG today announced that it upsized and priced a private offering of $350
million in aggregate principal amount of senior notes due 2021 in a private
placement to eligible investors. The notes will bear interest at 5.50% per
annum and are being issued at a price of 100% of their face amount. The notes
will be jointly and severally guaranteed on a senior basis by Kodiak's
subsidiary, Kodiak Oil & Gas (USA) Inc. and by certain future subsidiaries.
Kodiak expects to close the notes offering on January 15, 2013, subject to the
satisfaction of customary closing conditions.
Kodiak intends to use the net proceeds of the offering to pay down a portion
of the outstanding debt under Kodiak's first lien credit agreement, such that,
after giving effect to such pay down, the remaining balance thereunder will be
$1.6 million.
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