debt
confidence high
sentiment neutral
materiality 0.60
Northern Oil & Gas issues $500M of 7.5% senior notes due 2034
NORTHERN OIL & GAS, INC.
- Issued $500M aggregate principal of 7.500% Senior Notes due 2034 under indenture with Wilmington Trust.
- Notes mature Sept 1, 2034; interest payable semi-annually Mar 1 and Sep 1, starting Mar 1, 2027.
- Up to 40% redeemable before Sept 1, 2029 at 107.5% with equity offering proceeds; make-whole redemption also available.
- Change of control triggers repurchase at 101% plus accrued interest.
- Covenants limit additional debt, dividends, asset sales, investments, liens; terminate if investment grade.