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Prospect News home > News index > List of issuers K > Headlines for Kodiak Oil & Gas Corp. > News item |
Whiting gives results of required offer to purchase Kodiak Oil notes
By Toni Weeks
San Luis Obispo, Calif., March 4 – Whiting Petroleum Corp. announced the results of its offer to purchase any or all of three series of notes issued by Kodiak Oil & Gas Corp.
As of 5 p.m. ET on March 4, the withdrawal deadline for the offer, holders had tendered $2.5 million of the outstanding $800 million of 8 1/8% senior notes due 2019, $346.1 million of the outstanding $350 million of 5½% senior notes due 2021 and $399.4 million of the outstanding $400 million of 5½% senior notes due 2022.
The tender offer was required as a result of Whiting’s acquisition of Kodiak Oil & Gas on Dec. 8.
The company will pay 101% of par.
Whiting said it will fund the purchase with borrowings under its revolving credit facility.
Settlement is expected March 6.
Whiting is an oil and gas company based in Denver. Kodiak is an energy company also based in Denver.
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