Laredo Petroleum to pay down senior secured loans with stock proceeds

By Marisa Wong

Morgantown, W.Va., May 10 – Laredo Petroleum, Inc. said it intends to repay borrowings under its senior secured credit facility using proceeds from a sale of common stock.

The company announced on Tuesday that it plans to conduct a public offering of 9.5 million shares with a greenshoe for up to 1,425,000 additional shares.

The energy company is based in Tulsa, Okla.

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