OKLAHOMA CITY, Dec. 18, 2012 (GLOBE NEWSWIRE) -- Gulfport Energy Corporation (Nasdaq:GPOR) ("Gulfport") today announced that it proposes to offer, subject to market conditions and other factors, $50 million aggregate principal amount of its 7.750% senior notes due 2020 (the "Notes") to qualified institutional buyers pursuant to Rule 144A under the Securities Act of 1933, as amended (the "Securities Act"), and to certain non-U.S. persons in accordance with Regulation S under the Securities Act. On October 17, 2012, Gulfport completed a private placement of $250 million aggregate principal amount of its 7.750% senior notes due 2020. The Notes and the notes originally issued in October 2012 will be treated as a single class of debt securities under the same indenture. Gulfport expects to use the net proceeds of the current Notes offering for general corporate purposes, including the funding of a portion of its 2013 capital development plan.
Gulfport Energy Corporation Launches Proposed $50 Million Tack On Offering Of Senior Notes
Check Out Our Best Services for Investors
- $2.5+ million portfolio
- Large-cap and dividend focus
- Intraday trade alerts from Cramer
Access the tool that DOMINATES the Russell 2000 and the S&P 500.
- Buy, hold, or sell recommendations for over 4,300 stocks
- Unlimited research reports on your favorite stocks
- A custom stock screener
- Model portfolio
- Stocks trading below $10
- Intraday trade alerts
More than 30 investing pros with skin in the game give you actionable insight and investment ideas.