Bonanza Creek will use senior notes to repay bank debt

Chicago, Oct. 5 – Bonanza Creek Energy Inc. announced that it will use the proceeds from an offering of notes to repay borrowings outstanding under the CPPIB Crestone Peak Resources America Inc. credit facility and also repay borrowings under Bonanza Creek’s credit facility, according to a press release.

The transactions are related to Bonanza Creek’s merger with Extraction Oil & Gas Inc. and the acquisition of Crestone Peak with shares of Bonanza Creek.

Denver-based Bonanza Creek is an independent oil and gas company.

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