Northern Oil and Gas Inc. (“NOG”) is offering $450 million in new senior notes to eligible buyers, the company announced in a May 8 press release. The notes won’t be due until 2031. (Source: Shutterstock.com)
Northern Oil and Gas Inc. (“NOG”) is offering $450 million in new senior notes to eligible buyers, the company announced in a May 8 press release. The notes won’t be due until 2031.
The notes are solely offered to “qualified institutional” buyers under Rule 144A and Regulation S of the Securities Act of 1933. Alternatively, buyers who are non-“U.S. persons” under the abovementioned legislation may also be considered.
According to the press release, NOG plans to use the proceeds from this endeavor for general purposes, including paying back outstanding debts.
Northern Oil and Gas is based in Minnetonka, Minnesota.
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