Continental Resources to price $400 million senior notes on Tuesday

By Stephanie N. Rotondo

Portland, Ore., March 29 - Continental Resources Inc. is expected to price a $200 million offering of senior notes (B2/BB) on Tuesday afternoon, a source said.

There will be an investor call at 11 a.m. ET on Tuesday.

The notes mature October 2020 and are non-callable until October 2015.

Bank of America Merrill Lynch, RBS Capital Markets and JP Morgan Securities Inc. are the joint bookrunners for the Rule 144A with registration rights deal.

BNP Paribas, BBVA Compass, Mitsubishi UFJ Financial Group and Wells Fargo Securities are the senior co-managers. Capital One Southcoast, TD Securities Inc. and US Bancorp are the co-managers.

The notes will have the same covenants at the company's existing 8ð% notes due 2019.

Proceeds will be used to repay some of the borrowings outstanding on the company's revolving credit facility.

Continental Resources is an Enid, Okla.-based independent oil and natural gas exploration and production company.

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