Forest Oil Prices $600MM Debt Offering

Forest Oil Corporation has priced its private offering to eligible purchasers of $600 million principal amount of 8.5% Senior Notes due 2014. The notes mature on February 15, 2014 and are priced at 95.15% of the principal amount to yield 9.75% to maturity. The offering is expected to settle and close on February 17, 2009, subject to customary closing conditions.

Forest intends to use the net proceeds from the offering to repay a portion of the outstanding borrowings under Forest’s bank credit facilities.


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