Tap Rock Resources offers $450 million five-year notes; talk 7% area

By Paul A. Harris

Portland, Ore., Sept. 21 – Tap Rock Resources, LLC plans to sell $450 million of five-year senior notes during the present week, according to market sources.

Initial guidance is in the 7% area.

J.P. Morgan Securities LLC, BofA Securities Inc., Citigroup Global Markets Inc., RBC Capital Markets LLC and KeyBanc Capital Markets Inc. are the joint bookrunners.

The Rule 144A and Regulation S for life notes come with two years of call protection.

The Golden, Colo.-based oil and gas company plans to use the proceeds to repay debt under its revolver and fund a distribution.

© 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.