Aurora USA Oil talks $200 million 51/4-year notes with 10¼% area yield

By Paul A. Harris

Portland, Ore., Jan. 31 - Aurora USA Oil & Gas Inc. talked its $200 million offering of 51/4-year senior notes (Caa1) with a yield in the 10¼% area on Tuesday, according to an informed source.

The books close at 10 p.m. ET on Wednesday, and the deal is set to price thereafter.

Credit Suisse Securities (USA) LLC and UBS Securities LLC are the joint bookrunners.

The Rule 144A and Regulation S for life notes come with three years of call protection and feature a 101% poison put.

The Traverse, Mich.-based independent energy company plans to use the proceeds to fund the development of acreage, for general corporate purposes and to fund acquisitions.

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