Triangle USA to pay down credit facilities with new notes offering

By Tali Rackner

Norfolk, Va., July 9 – Triangle Petroleum Corp. wholly owned subsidiary Triangle USA Petroleum Corp. plans to pay down and terminate its second-lien credit facility and repay a portion of outstanding debt under its senior credit facility with the proceeds from a senior notes offering, according to a press release.

Proceeds will also be used to reimburse Triangle Petroleum for capital contributions to Triangle USA in connection with closing the acquisitions of Williston Basin properties announced on May 14 and for other general corporate purposes.

Triangle USA is a Denver-based oil and gas exploration 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.