Aurora USA Oil & Gas to price $250 million seven-year notes Thursday

By Paul A. Harris

Portland, Ore., March 13 - Aurora USA Oil & Gas Inc. plans to price a $250 million offering of seven-year senior notes on Thursday, according to an informed source.

Credit Suisse Securities (USA) LLC and UBS Investment Bank are the joint bookrunners.

The Rule 144A and Regulation S for life notes become callable in three years at par plus 75% of the coupon. The notes feature a three-year 35% equity clawback and a 101% poison put.

The energy company plans to use the proceeds to fund the acquisition of additional acreage, to fund capital expenditures and for general corporate purposes.

Houston-based Aurora USA Oil & Gas is a subsidiary of Aurora Oil & Gas Ltd., a Perth, Western Australia-based company.

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