RKI starts roadshow for $350 million eight-year senior notes offer

By Paul A. Harris

Portland, Ore., July 8 - RKI Exploration & Production, LLC and RKI Finance Corp. began a roadshow on Monday in New York for a $350 million offering of eight-year senior notes, according to a syndicate source.

Subsequent presentations are set for New York and New Jersey on Tuesday, Boston on Wednesday and the West Coast of the United States on Thursday and Friday.

An investor call is scheduled for noon ET on Tuesday.

The deal is expected to price late in the present week or early in the July 15 week.

Citigroup Global Markets, J.P. Morgan Securities LLC and UBS Investment Bank are the joint bookrunners. BBVA Securities and Mitsubishi UFJ Securities are the senior co-managers. BOSC Inc., Comerica Securities, Natixis Securities and US Bancorp are the co-managers.

The Rule 144A and Regulation S for life notes become callable in three years at par plus 75% of the coupon. The notes feature a three-year 35% equity clawback and a 101% poison put.

The Oklahoma City-based energy company plans to use the proceeds to fully repay its second-lien credit facility and pay down its revolver.

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