This Day On The Street
Continue to site
ADVERTISEMENT
This account is pending registration confirmation. Please click on the link within the confirmation email previously sent you to complete registration.
Need a new registration confirmation email? Click here

QEP Resources Announces $600 Million Senior Notes Offering

DENVER, Sept. 5, 2012 /PRNewswire/ -- QEP Resources, Inc. (NYSE: QEP) today announced a $600 million offering of senior notes due 2023.  The notes are being offered to fund a portion of the consideration to acquire producing and undeveloped oil and gas properties in North Dakota's Williams and McKenzie counties. The oil and gas properties will be acquired pursuant to two related purchase and sale agreements. Prior to the consummation of the transactions contemplated by the purchase and sale agreements, the net proceeds from this offering will be held by QEP Resources and a portion of those proceeds will be used to temporarily pay down any outstanding amounts under QEP Resources' revolving credit facility.  If neither of the transactions contemplated by the purchase and sale agreements close on or prior to December 31, 2012, or if both purchase and sale agreements are terminated at any time prior thereto, QEP Resources will be required to redeem all of the notes at a redemption price equal to 100% of their issue price, plus accrued and unpaid interest to the date of redemption.

(Logo:  http://photos.prnewswire.com/prnh/20101116/LA02638LOGO)

J.P. Morgan Securities LLC, BMO Capital Markets Corp., Deutsche Bank Securities Inc., Wells Fargo Securities, LLC, and Citigroup Global Markets, Inc. are acting as joint book-running managers of the offering.  The offering will be made only by means of a prospectus supplement and accompanying base prospectus, copies of which may be obtained by contacting J.P. Morgan Securities LLC at 383 Madison Avenue, 3 rd Floor, New York, New York 10179, Attention: Syndicate Desk, or by calling (800) 245-8812.

When available, an electronic copy of the preliminary prospectus supplement and accompanying base prospectus may also be obtained at no charge at the Securities and Exchange Commission's website at http://www.sec.gov.

This press release does not constitute an offer to sell or the solicitation of an offer to buy, nor shall there be any sale of these securities in any state or jurisdiction in which such offer, solicitation or sale would be unlawful prior to registration or qualification under the securities laws of any such state or jurisdiction.  The offering is being made pursuant to an effective registration statement on Form S-3 previously filed by QEP Resources with the Securities and Exchange Commission.

1 of 2

Check Out Our Best Services for Investors

Action Alerts PLUS

Portfolio Manager Jim Cramer and Director of Research Jack Mohr reveal their investment tactics while giving advanced notice before every trade.

Product Features:
  • $2.5+ million portfolio
  • Large-cap and dividend focus
  • Intraday trade alerts from Cramer
Quant Ratings

Access the tool that DOMINATES the Russell 2000 and the S&P 500.

Product Features:
  • Buy, hold, or sell recommendations for over 4,300 stocks
  • Unlimited research reports on your favorite stocks
  • A custom stock screener
Stocks Under $10

David Peltier uncovers low dollar stocks with serious upside potential that are flying under Wall Street's radar.

Product Features:
  • Model portfolio
  • Stocks trading below $10
  • Intraday trade alerts
14-Days Free
Only $9.95
14-Days Free
Dividend Stock Advisor

David Peltier identifies the best of breed dividend stocks that will pay a reliable AND significant income stream.

Product Features:
  • Diversified model portfolio of dividend stocks
  • Updates with exact steps to take - BUY, HOLD, SELL
Trifecta Stocks

Every recommendation goes through 3 layers of intense scrutiny—quantitative, fundamental and technical analysis—to maximize profit potential and minimize risk.

Product Features:
  • Model Portfolio
  • Intra Day Trade alerts
  • Access to Quant Ratings
Options Profits

Our options trading pros provide over 100 monthly option trading ideas and strategies to help you become a well-seasoned trader.

Product Features:
  • Actionable options commentary and news
  • Real-time trading community
SYM TRADE IT LAST %CHG

Markets

DOW 17,730.11 -27.80 -0.16%
S&P 500 2,076.78 -0.64 -0.03%
NASDAQ 5,009.2140 -3.9090 -0.08%

Free Reports

Top Rated Stocks Top Rated Funds Top Rated ETFs