Laredo Petroleum Prices Offering of $350 Million of Senior Notes
05 March 2015 - 10:44AM
TULSA, OK - March 4, 2015 -
Laredo Petroleum, Inc., a Delaware corporation (NYSE: LPI)
("Laredo" or the "Company"), announced today the pricing of $350
million in aggregate principal amount of 6 1/4% senior notes due
2023. Interest is payable on March 15 and September 15 of each
year. The first interest payment will be made on September 15,
2015, and will consist of interest from closing to that date. The
offering is expected to close on March 18, 2015, subject to
customary closing conditions. 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.
This offering is being made pursuant to an
effective automatic shelf registration statement, including a base
prospectus and a preliminary prospectus supplement related to the
offering, previously filed by the Company with the Securities and
Exchange Commission ("SEC"). Copies of the base prospectus and the
preliminary prospectus supplement may be obtained by visiting the
SEC website at www.sec.gov. Alternatively, copies of the base
prospectus and the preliminary prospectus supplement may be
obtained by contacting any of the joint book-running managers
at:
BofA Merrill
Lynch
222 Broadway
New York, NY 10038
Attn: Prospectus Dept.
Email: dg.prospectus_ requests@baml.com |
BMO
Capital Markets Corp.
3 Times Square
New York, NY 10036
Attn: Equity Syndicate Dept.
Tel: (800) 414-3627
Email: bmoprospectus@bmo.com |
Goldman, Sachs &
Co.
200 West Street
New York, NY 10282
Attn: Prospectus Dept.
Tel: (866) 471-2526
Email: prospectus-ny@ny.email.gs.com |
Wells
Fargo Securities
Attn: Client Support
608 2nd Avenue
South Minneapolis, MN 55402
Tel: (800) 645-3751 Opt 5
Email: wfscustomerservice@wellsfargo.com |
Societe
Generale
SG Americas Securities, LLC
245 Park Avenue
New York, NY 10167
Attn: High Yield Capital Markets
Tel: (855) 881-2108 |
|
|
|
|
This press release shall not constitute an offer
to sell or a solicitation of an offer to buy any securities nor
shall there be any sale of these securities in any state or
jurisdiction in which such an offer, solicitation or sale would be
unlawful prior to registration or qualification under the
securities laws of any such state or jurisdiction. Any offer or
sale of these securities will be made only by means of a
prospectus, including a prospectus supplement, forming a part of
the related registration statement.
About Laredo
Laredo Petroleum, Inc. is an independent energy
company with headquarters in Tulsa, Oklahoma. Laredo's business
strategy is focused on the acquisition, exploration and development
of oil and natural gas properties primarily in the Permian Basin in
West Texas.
Additional information about Laredo may be found
on its website at www.laredopetro.com.
Forward-Looking
Statements
This press release contains forward-looking
statements as defined under federal securities laws. All
statements, other than statements of historical facts, that address
activities that Laredo assumes, plans, expects, believes, intends,
projects, estimates or anticipates (and other similar expressions)
will, should or may occur in the future are forward-looking
statements. The forward-looking statements are based on
management's current belief, based on currently available
information, as to the outcome and timing of future events. The
forward-looking statements involve risks and uncertainties,
including, among others, that our business plans may change as
circumstances warrant and the securities may not ultimately be
offered to the public because of general market conditions or other
factors. General risks relating to Laredo include, but are not
limited to, the risks described in its Annual Report on Form 10-K
for the year ended December 31, 2014, the preliminary prospectus
supplement and those set forth from time to time in other filings
with the SEC. These documents are available through Laredo's
website at www.laredopetro.com under the tab "Investor Relations"
or through the SEC's Electronic Data Gathering and Analysis
Retrieval System ("EDGAR") at www.sec.gov. Any of these factors
could cause Laredo's actual results and plans to differ materially
from those in the forward-looking statements. Laredo does not
intend to, and disclaims any obligation to, update or revise any
forward-looking statement.
# # #
Contact:
Ron Hagood: (918) 858-5504 - RHagood@laredopetro.com
15-6
This
announcement is distributed by NASDAQ OMX Corporate Solutions on
behalf of NASDAQ OMX Corporate Solutions clients.
The issuer of this announcement warrants that they are solely
responsible for the content, accuracy and originality of the
information contained therein.
Source: Laredo Petroleum, Inc via Globenewswire
HUG#1899596
Laredo Petroleum (NYSE:LPI)
Historical Stock Chart
From Feb 2024 to Mar 2024
Laredo Petroleum (NYSE:LPI)
Historical Stock Chart
From Mar 2023 to Mar 2024