Goodrich Petroleum Launches Convertible Notes Offering

Goodrich Petroleum has commenced an underwritten public offering, subject to market and other conditions, of $150 million aggregate principal amount of convertible senior notes. The underwriters for the offering will also have the option to purchase up to $22.5 million principal amount of additional notes solely to cover any over-allotments.



The Company intends to use a portion of the net proceeds from the offering to repay its $75 million second lien term loan and all amounts outstanding under its senior credit facility, with the remainder to be used for general corporate purposes. If the underwriters exercise their over-allotment option to purchase additional notes, the Company will use the proceeds from such sale of additional notes for general corporate purposes.