Laredo Petroleum Announces Offering of Senior Notes
July 12, 2021 at 07:58 AM EDT
TULSA, OK, July 12, 2021 (GLOBE NEWSWIRE) -- Laredo Petroleum, Inc., a Delaware corporation (NYSE: LPI) ("Laredo" or the "Company"), announced today that it intends, subject to market conditions, to offer $400 million in aggregate principal amount of senior unsecured notes due 2029 (the "notes") in a private offering to eligible purchasers. The Company intends to use the net proceeds from the offering, if completed, for general corporate purposes, including, repaying a portion of the borrowings outstanding under the Company’s senior secured credit facility.
The notes and the related guarantees to be offered have not and will not be registered under the Securities Act or any state securities laws and may not be offered or sold in the United States absent registration or an applicable exemption from the registration requirements of the Securities Act and applicable state securities laws. The notes and the related guarantees will be offered and sold only to persons reasonably believed to be qualified institutional buyers in the United States pursuant to Rule 144A under the Securities Act of 1933, as amended (the "Securities Act") and outside the United States pursuant to Regulation S under the Securities Act. This press release does not constitute an offer to sell, or a solicitation of an offer to buy, the notes or the guarantees, nor shall there be any sale of the notes or the guarantees in any state or jurisdiction in which such offer, solicitation or sale is unlawful.