Brigham Seeks to Raise $125 Million

Brigham Exploration Co. has priced a private placement of $125 million of 9.625% senior notes due 2014.

The notes were priced at 98.629% of their face value to yield 9.875%, and will be issued pursuant to an indenture dated April 20, 2006. The notes will be fully and unconditionally guaranteed by certain Brigham subsidiaries. Brigham intends to use the net proceeds from the notes offering to repay all amounts currently outstanding under its senior and subordinated credit agreement. In addition, the proceeds will fund exploration and development activities and general corporate purposes.

With the completion of the notes offering, Brigham will terminate its subordinated credit agreement.


Our Privacy Pledge

Most Popular Articles

From the Career Center
Jobs that may interest you
Contracts Advisor
Expertise: Budget / Cost Control|Contracts Engineer|Supply Chain Management
Location: San Ramon, CA
Accounting Manager
Expertise: Accounting
Location: Houston, TX
Data Processing Supervisor
Expertise: Planner / Scheduler|Project Controls|Refinery / Plant Operator
Location: Houston, TX
search for more jobs

Brent Crude Oil : $52.67/BBL 1.91%
Light Crude Oil : $51.6/BBL 2.60%
Natural Gas : $3.17/MMBtu 2.76%
Updated in last 24 hours