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Northern Oil repays first-lien term loan via notes, revolver proceeds
By Wendy Van Sickle
Columbus, Ohio, Oct. 10 – Northern Oil and Gas, Inc. fully repaid and retired its first-lien term loan led by TPG Sixth Street Partners using proceeds from a $350 million tap of five-year 8½% senior second-lien notes as well as borrowings under its revolving credit facility, according to an 8-K filing with the Securities and Exchange Commission.
The offering of additional notes, which are a tack-on to the $344.3 million of notes the company priced in May, closed on Oct. 5.
Northern Oil is an exploration and production company based in Wayzata, Minn.
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