Pogo Announces $350 Million Offering of Senior Subordinated Notes
Pogo Producing Company says that it intends to offer, subject to market and other conditions, $350 million of Senior Subordinated Notes due 2017 in a private offering. Pogo intends to use net proceeds from the sale of the notes to fund a portion of the purchase price of Northrock Resources Ltd. ("Northrock"). In the event that Pogo does not complete the acquisition of Northrock, the net proceeds of the offering will be used for general corporate purposes.
The notes to be offered have not been registered under the Securities Act of 1933, as amended (the "Securities Act"), or any state securities laws and, unless so registered, may not be offered or sold in the United States except pursuant to an exemption from, or in a transaction not subject to, the registration requirements of the Securities Act and applicable state securities laws.
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