Oasis greenshoe fully exercised, raising convertibles to $300 million

New York, Sept. 29 – Oasis Petroleum Inc. said that the underwriters for its recent offering of seven-year convertible senior notes exercised the $25 million over-allotment option in full, raising the size of the deal to $300 million.

The additional notes will settle on Sept. 30.

Oasis originally priced $275 million of the convertibles on Sept. 14 before the market opened with a 2.625% coupon at par and a 35% initial conversion premium.

The deal was increased from a planned $250 million but the greenshoe was trimmed to $25 million from $37.5 million.

RBC Capital Markets LLC, Citigroup Global Markets Inc., Deutsche Bank Securities Inc., Goldman Sachs & Co., J.P. Morgan Securities LLC and Wells Fargo Securities LLC were joint bookrunners.

Proceeds will be used to fund tender offers for the company’s 7.25% senior notes due 2019, 6.5% senior notes due 2021, 6.875% senior notes due 2022 and 6.875% senior notes due 2023.

Oasis Petroleum is a Houston-based independent oil and gas exploration and production company.

© 2015 Prospect News.
All content on this website is protected by copyright law in the U.S. and elsewhere. For the use of the person downloading only.
Redistribution and copying are prohibited by law without written permission in advance from Prospect News.
Redistribution or copying includes e-mailing, printing multiple copies or any other form of reproduction.