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Continental Resources Inc Announces Pricing Of $1.2 Billion Offering Of New Senior Notes due 2022


Monday, 13 Aug 2012 06:09pm EDT 

Continental Resources Inc announced the pricing of its private placement of $1.2 billion of new 5% senior unsecured notes due 2022. The new notes will be issued pursuant to the March 8, 2012 indenture applicable to its previously issued $800 million aggregate principal amount of 5% senior unsecured notes, resulting in a total of $2.0 billion aggregate principal amount of 5% senior unsecured notes being issued pursuant to the March 8, 2012 indenture. The new notes were sold at 102.375% of par, resulting in a yield to worst of 4.624% with respect to the new notes. The offering is expected to close on August 16, 2012, subject to customary closing conditions. Continental intends to use the net proceeds from the offering to repay borrowings outstanding under its revolving credit facility and for general corporate purposes. 

Company Quote

147.05
-3.15 -2.10%
31 Jul 2014