Bonanza Creek to price $250 million eight-year notes later this week

By Paul A. Harris

Portland, Ore., April 1 - Bonanza Creek Energy, Inc. plans to price a $250 million offering of eight-year senior notes this week, according to a syndicate source.

Wells Fargo Securities LLC is the left bookrunner. J.P. Morgan Securities LLC, KeyBanc Capital Markets and RBC Capital Markets are the joint bookrunners.

BMO Securities is the lead manager.

Iberia, Scotia Capital, SG CIB, Capital One Southcoast, Credit Agricole CIB, Global Hunter Securities and SunTrust Robinson Humphrey Inc. are the co-managers.

The Rule 144A and Regulation S with registration rights notes come with four years of call protection.

Credit ratings remain to be determined.

Proceeds will be used to repay all outstanding borrowings under the revolver. About $191.5 million remains outstanding as of March 28, 2013.

Proceeds will also be used for general corporate purposes, which may include funding the drilling and development program and capital expenditures.

Bonanza Creek is a Denver-based independent energy company engaged in the acquisition, exploration, development and production of onshore oil and associated liquids-rich natural gas in the United States.

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