Ultra Resources Inc.
Description
Will offer $700 million of senior unsecured notes due 2022 and $500 million of senior unsecured notes due 2025 in a private placement. Parent Ultra Petroleum Corp. will use the proceeds, together with other exit financings and cash on hand, to fund distributions provided for under a comprehensive reorganization plan of Ultra and its subsidiaries, which was approved by the U.S. Bankruptcy Court for the Southern District of Texas on March 14. The funds will also pay certain fees, commissions and related expenses.