SandRidge Energy to use draw under facility to help fund tender offer

By Angela McDaniels

Tacoma, Wash., March 1 - SandRidge Energy Inc. plans to fund a portion of a tender offer for its $650 million of 8 5/8% senior notes due 2015 with borrowings under its senior credit facility, according to a company news release.

The company will also use cash on hand and proceeds from a capital markets debt offering to fund the offer.

The tender offer will expire at 11:59 p.m. ET on March 28.

The dealer manager and solicitation agent for the tender offer is RBC Capital Markets, LLC (212 618-7822 or 877 381-2099). The depositary and information agent is Global Bondholder Services Corp. (212 430-3774 for banks and brokers, others call 866 488-1500).

SandRidge Energy is an Oklahoma City-based oil and natural gas company.

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