New Issue: Oasis Petroleum upsizes to $400 million, prices eight-year notes at par to yield 7¼%

By Paul A. Harris

Portland, Ore., Jan. 28 - Oasis Petroleum Inc. priced an upsized $400 million issue of eight-year senior notes (Caa1/B-/) at par to yield 7¼% on Friday, according to market sources.

The yield printed at the tight end of the 7¼% to 7½% price talk.

J.P. Morgan Securities LLC, Wells Fargo Securities, BNP Paribas Securities Corp. and UBS Investment Bank were the joint bookrunners.

The Houston-based independent oil and gas exploration and production company plans to use the proceeds to fund its exploration, development and acquisition program and for general corporate purposes.

Issuer:	Oasis Petroleum Inc.
Amount:	$400 million, increased from $300 million
Maturity:	Feb. 1, 2019
Securities:	Senior notes
Bookrunners:	J.P. Morgan Securities LLC, Wells Fargo Securities, BNP Paribas, UBS Investment Bank
Coupon:	7¼%
Price:	Par
Yield:	7¼%
Spread:	429 bps
Call protection:	Four years
Trade date:	Jan. 28
Settlement date:	Feb. 2
Ratings:	Moody's: Caa1
	Standard & Poor's: B-
Distribution:	Rule 144A and Regulation S
Price talk:	7¼% to 7½%

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