Published on 4/12/2013 in the Prospect News High Yield Daily.
New Issue: RAAM Global details emerge in $50 million tap of 12½% notes due 2015
Portland, Ore., April 12 - RAAM Global Energy Co. priced a $50 million add-on to its 12½% senior secured notes due Oct. 1, 2015 at 103 to yield 11.076% on Thursday, according to a market source.
Global Hunter Securities managed the sale, the source said.
The Lexington, Ky.-based oil and gas company will use the proceeds to repay revolver debt and for general corporate purposes.
| Issuer: | RAAM Global Energy Co.
|
| Amount: | $50 million
|
| Proceeds: | $50.3 million
|
| Maturity: | Oct. 1, 2015
|
| Security description: | Add-on to 12½% senior secured notes due 2015
|
| Manager: | Global Hunter Securities
|
| Coupon: | 12½%
|
| Price: | 103
|
| Yield: | 11.076%
|
| Trade date: | April 11
|
| Distribution: | Rule 144A and Regulation S
|
| Original issue: | $150 million in September 2010
|
| Previous add-on: | $50 million priced in July 2011
|
| Total issue size: | $250 million
|
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