Osage Exploration lifts private placement of notes to $20 million

By Devika Patel

Knoxville, Tenn., April 8 - Osage Exploration and Development Inc. increased a private placement of senior secured notes with Apollo Investment Corp. to $20 million from $10 million on April 27, according to an 8-K filed Monday with the Securities and Exchange Commission. The deal settled on April 27, 2012.

The note is due April 27, 2015 and accrues interest at Libor plus 15% with a Libor floor of 2%.

Osage is an oil and gas exploration company in San Diego.

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