OKLAHOMA CITY, Aug. 13, 2014 (GLOBE NEWSWIRE) -- Gulfport Energy Corporation (Nasdaq:GPOR) ("Gulfport") today announced that it has priced an offering of $300 million aggregate principal amount of its 7.750% senior notes due 2020 (the "Notes") at an issue price of 106% of the aggregate principal amount of the Notes. This represents an increase in the size of the offering from $250 million principal amount announced at the launch on August 13, 2014. The Notes were sold 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 and December 21, 2012, Gulfport completed two private placements of an aggregate of $300 million principal amount of its 7.750% senior notes due 2020. The Notes and the notes originally issued in October and December 2012 will be treated as a single class of debt securities under the same indenture. It is anticipated that the offering of the Notes will close on August 18, 2014. Gulfport expects to use the net proceeds of the current Notes offering to repay the current outstanding borrowings under its secured revolving credit facility and for general corporate purposes, including the funding of a portion of its 2014 and 2015 capital development plans.
Gulfport Energy Corporation Prices $300 Million Tack On Offering Of Senior Notes
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