Kodiak Oil & Gas driving by with $300 million 8.5-year senior notes

By Paul A. Harris

Portland, Ore., July 23 - Kodiak Oil & Gas Corp. plans to price a $300 million offering of 8.5-year senior notes Tuesday afternoon, following a mid-morning investor conference call, according to an informed source.

Credit Suisse Securities (USA) LLC, BMO Capital Markets Corp., KeyBanc Capital Markets, RBC Capital Markets, Scotia Capital and Wells Fargo Securities LLC are the joint bookrunners.

The Rule 144A and Regulation S with registration rights notes become callable in four years at par plus 50% of the coupon. The notes feature a three-year 35% equity clawback and a 101% poison put.

The Denver-based independent oil and gas exploration and production company plans to use the proceeds to repay debt.

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