Midstates Petroleum to price $700 million eight-year notes this week

By Paul A. Harris

Portland, Ore., May 20 - Midstates Petroleum Co., Inc. and Midstates Petroleum Co. LLC began a roadshow on Monday for their $700 million offering of eight-year senior notes, according to a syndicate source.

The deal is set to price later this week.

Morgan Stanley & Co. LLC, SunTrust Robinson Humphrey Inc., BofA Merrill Lynch, RBC Capital Markets, SG CIB, Citigroup Global Markets Inc., Goldman Sachs & Co., Natixis Securities and RBS Securities Inc. are the joint bookrunners.

Capital One South Coast, KeyBanc Capital Markets and Scotia Capital are the co-managers.

The Rule 144A with registration rights notes come with three years of call protection.

The Houston-based independent exploration and production company plans to use the proceeds to fund the purchase of producing properties as well as developed and undeveloped acreage in the Anadarko Basin in Texas and Oklahoma from Panther Energy LLC and its partners Red Willow Mid-Continent LLC and LINN Energy Holdings LLC.

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