AerospaceHuman ResourcesArchitectureInnovationBanking & FinanceNonprofitsConstructionReal EstateEconomy RetailEducationSales & MarketingEnergyTechnologyGovernmentTransportationHealth Care
SandRidge Energy Inc. announced April 2 the pricing of its private placement of $750 million of 8.125% senior notes due 2022.
SandRidge Energy Inc. announced April 2 the pricing of its private placement of $750 million of 8.125% senior notes due 2022. The notes were priced at 100% of par, resulting in a yield to maturity of 8.125%. The offering is expected to settle on April 17.
Net proceeds from this offering will be used to finance the cash consideration of approximately $680 million payable in connection with the company's pending acquisition of Dynamic Offshore Resources LLC and to pay related costs and expenses.
Company officials said any remaining net proceeds are expected to be used for general corporate purposes. The closing of the offering is conditioned upon the concurrent closing of the Dynamic acquisition and is subject to customary closing conditions.