New Issue-Goodrich Petroleum sells $275 mln notes

Fri Feb 25, 2011 5:59pm EST

  Feb 25 (Reuters) - Goodrich Petroleum Corporation (GDP.N)
on Friday sold $275 million of senior notes in the 144a private
placement market, said IFR, a Thomson Reuters service.
 The size of the deal was increased from an originally
planned $225 million.
 JP Morgan, Jefferies, BMO Capital, BNP Paribas, RBC, Wells
Fargo and Bank of America Merrill Lynch were the joint
bookrunning managers for the sale.
BORROWER: GOODRICH PETROLEUM CORPORATION
AMT $275 MLN      COUPON 8.875 PCT    MATURITY 3/15/2019 
TYPE SR NTS       ISS PRICE 100.00    FIRST PAY 9/15/2011
MOODY'S Caa1      YIELD 8.875 PCT     SETTLEMENT 3/2/2011
S&P CCC-PLUS      SPREAD 603 BPS      PAY FREQ SEMI-ANNUAL
FITCH N/A          MORE THAN TREAS    NON-CALLABLE 4 YRS*
*MAKE-WHOLE CALL 50 BPS

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