Bonanza Creek to repay all revolver borrowings with notes proceeds

By Tali Rackner

Norfolk, Va., July 15 – Bonanza Creek Energy, Inc. plans to repay all of the outstanding borrowings under its revolving credit facility with the proceeds from a senior notes offering, according to a notice.

Proceeds will also be used for general corporate purposes, which may include funding Bonanza’s drilling and development program and other capital expenditures.

The oil and natural gas company is based in Denver.

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