New Issue-Sandridge Energy sells $365.5 mln in 7-yr sr notes
May 11 (Reuters) - Oil and gas company Sandridge Energy Inc (SD.N: Quote, Profile, Research) on Monday sold $365.5 million of seven-year senior notes in the 144a private placement market, said IFR, a Thomson Reute 536870914 1920147571
The size of the deal was increased from an originally planned $300 million.
Barclays, Bank of America, JP Morgan, Royal Bank of Canada, and Royal Bank of Scotland were the joint bookrunning managers for the sale. BORROWER: SANDRIDGE ENERGY INC AMT $365.5 MLN* COUPON 9.875 PCT MATURITY 5/15/2016 TYPE SR NOTES ISS PRICE 95.773 FIRST PAY 11/15/2009 MOODY'S B3 YIELD 10.75 PCT SETTLEMENT 5/14/2009 S&P B-MINUS SPREAD 809 BPS/ PAY FREQ SEMI-ANNUAL FITCH N/A MORE THAN TREAS NON-CALLABLE 4-YEARS** * FACE AMT:$365.5 MLN. PROCEEDS:$350.050 MLN. ** NON-CALLABLE 4-YRS THEN AT 104.938, 102.469, 100.
EQUITY CLAW: 3YR 35% AT 109.875.
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