Warren Resources talks $200 million eight-year notes to yield 8¼%-8½%

By Paul A. Harris and Aleesia Forni

Virginia Beach, Va., June 6 - Warren Resources, Inc. has set yield talk for its planned offering of $200 million senior notes due 2021 (Caa1/CCC+) at 8¼% to 8½%, according to a market source.

Books close at 10 a.m. ET on Friday, with pricing expected thereafter.

BMO Capital Markets is the bookrunner for the Rule 144A and Regulation S with registration rights deal.

The notes will be non-callable for four years.

Proceeds will be used to repay borrowings under the company's credit facility, for capital expenditures and for other general corporate purposes.

Warren Resources is a New York-based independent energy company.

© 2015 Prospect News.
All content on this website is protected by copyright law in the U.S. and elsewhere. For the use of the person downloading only.
Redistribution and copying are prohibited by law without written permission in advance from Prospect News.
Redistribution or copying includes e-mailing, printing multiple copies or any other form of reproduction.