Continental Resources, Inc. (ticker: CLR) announced today the pricing of its private placement of $1 billion of new 4 3/8% senior unsecured notes due 2028. The notes were sold at par. The offering is expected to close on December 8, 2017. The company intendeds to use the net proceeds from this offering to repay in full and terminate its $500 million term loan and to repay a portion of the borrowings outstanding under its revolving credit facility.
Continental recently redeemed all of its outstanding 7 3/8% Senior Notes due 2020 (the “2020 Notes”) and 7 1/8% Senior Notes due 2021 (the “2021 Notes”) on November 10, 2016.
Source: Continental Resources
