Kodiak Oil & Gas Corp. ( KOG ) has upsized and priced a private offering of $350 million in aggregate principal amount of senior notes due 2021 in a private placement to eligible investors. The notes will bear interest at 5.50% per annum and are being issued at a price of 100% of their face amount. The notes will be jointly and severally guaranteed on a senior basis by the company's subsidiary, Kodiak Oil & Gas ( USA ) Inc. and by certain future subsidiaries. Kodiak expects to close the notes offering on January 15, 2013, subject to the satisfaction of customary closing conditions.
KOG is down 0.3% at $9.29 after-hours, trading in a 52-week range of $6.92 - $10.90. Shares have fallen 6% in the last 12 months.
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