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Triangle USA to pay down credit facilities with new notes offering
By Tali Rackner
Norfolk, Va., July 9 – Triangle Petroleum Corp. wholly owned subsidiary Triangle USA Petroleum Corp. plans to pay down and terminate its second-lien credit facility and repay a portion of outstanding debt under its senior credit facility with the proceeds from a senior notes offering, according to a press release.
Proceeds will also be used to reimburse Triangle Petroleum for capital contributions to Triangle USA in connection with closing the acquisitions of Williston Basin properties announced on May 14 and for other general corporate purposes.
Triangle USA is a Denver-based oil and gas exploration company.
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