Goodrich Petroleum's 9.75% preferreds admitted to trading on NYSE

By Tali David

Minneapolis, Aug. 21 - The depositary shares of Goodrich Petroleum Corp.'s 9.75% series D cumulative preferred stock have been admitted to trading on the New York Stock Exchange, according to a notice.

The preferreds trade under the symbol "GDP PRD."

The company priced $120 million of the preferreds on Aug. 14.

The preferreds will be issued as depositary shares representing a 1/1,000th interest.

Morgan Stanley & Co. LLC and UBS Securities LLC are the joint bookrunning managers.

As reported, proceeds will be used to enhance liquidity and financial flexibility through the repayment of borrowings under a senior credit facility and for general corporate purposes.

Goodrich is a Houston-based independent oil and gas exploration and development company.

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