Gulfport Energy selling $250 million eight-year notes at 7¾%-8% Friday

By Aleesia Forni

Columbus, Ohio, Oct. 12 - Gulfport Energy Corp. has set talk for its planned $250 million offering of eight-year senior notes at 7¾% to 8%, according to an informed source.

Books close at 11 a.m. ET on Friday, and pricing is expected thereafter.

Credit Suisse Securities (USA) LLC is the bookrunner.

The Rule 144A and Regulation S with registration rights notes come with four years of call protection and feature a three-year 35% equity clawback and a 101% poison put.

The Oklahoma City-based oil and gas exploration and production company plans to use the proceeds to repay revolver debt and pre-fund its drilling capital expenditures program.

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