Bonanza Creek Energy to pay down revolver with proceeds from new notes

By Marisa Wong

Madison, Wis., April 1 - Bonanza Creek Energy, Inc. said it plans to repay all outstanding borrowings under its revolving credit facility using proceeds from a new issue of senior notes due 2021.

The company announced on Monday that it plans to price $250 million of the notes.

Remaining proceeds will be used for general corporate purposes, including funding a drilling and development program and capital expenditures.

The oil and natural gas company is based in Denver.

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