OKLAHOMA CITY, May 28, 2015 /PRNewswire/ -- SandRidge
Energy, Inc. (the "Company") (NYSE:SD) announced today the
commencement of a private offering of $1
billion in aggregate principal amount of senior secured
notes due 2020 (the "Notes"). The Notes will be secured on a second
lien priority basis and guaranteed by each of the Company's
restricted subsidiaries that will guarantee the Company's revised
revolving credit facility. The issuance of the Notes will be
conditioned on, among other things, the effectiveness of a
fully-committed revised $500 million
borrowing base first lien revolving credit facility.
The Company intends to use the net proceeds from this offering
to repay borrowings under its existing revolving credit facility
and for general corporate purposes.
The Notes and related guarantees are being offered by the
Company only to qualified institutional buyers under Rule 144A of
the Securities Act of 1933, as amended (the "Securities Act"), and
to non-U.S. persons in transactions outside the United States under Regulation S of the
Securities Act. The Notes will not be registered under the
Securities Act, or any state securities laws and, unless so
registered, may not be offered or sold in the United States except pursuant to an
applicable exemption from the registration requirements of the
Securities Act and applicable state securities laws.
This press release shall not constitute an offer to sell or the
solicitation of an offer to buy, nor shall there be any sale of the
Notes, in any jurisdiction in which such offer, solicitation or
sale would be unlawful prior to registration or qualification under
the securities laws of any such jurisdiction.
About SandRidge Energy, Inc.
SandRidge Energy, Inc.
(NYSE: SD) is an oil and natural gas exploration and production
company headquartered in Oklahoma City,
Oklahoma with its principal focus on developing high-return,
growth-oriented projects in the Mid-Continent region of
the United States. In addition,
SandRidge owns and operates a saltwater gathering and disposal
system and a drilling rig and related oil field services
business.
CONTACT:
Duane Grubert
EVP – Investor Relations & Strategy
SandRidge Energy, Inc.
123 Robert S. Kerr Avenue
Oklahoma City, OK 73102
+1 (405) 429-5515
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SOURCE SandRidge Energy, Inc.