PetroQuest has priced an offering at par of $150 million aggregate principal amount of Senior Notes due 2017, which will bear interest at a rate of 10% per annum. The Company intends to use the net proceeds from the offering to fund its pending tender offer and consent solicitation for its existing 10 3/8% Senior Notes due 2012 (the "2012 Notes") and its expected redemption of any 2012 Notes not purchased in the tender offer. The Company expects to close the sale of the Senior Notes on August 19, 2010, subject to the satisfaction of customary closing conditions.
J.P. Morgan Securities Inc. is acting as book-running manager for the Senior Notes offering.
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