debt
confidence high
sentiment positive
materiality 0.65
Northern Oil and Gas issues $725M 7.875% senior notes due 2033; tenders $684.9M of 8.125% notes due 2028
NORTHERN OIL & GAS, INC.
- Issued $725M aggregate principal of 7.875% Senior Notes due Oct 15, 2033.
- Used portion of proceeds to accept $684.9M of outstanding 8.125% Notes due 2028 via tender offer.
- Interest on new notes payable semi-annually Apr 15 and Oct 15 starting Apr 15, 2026.
- Optional redemption: up to 40% before Oct 15, 2028 at 107.875% with equity offering proceeds; make-whole prior to Oct 15, 2028, then step-down.
- Change of control triggers repurchase at 101% plus accrued interest.