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Stock impact report

W&T Offshore, Inc. Announces Pricing of $625 Million Offering of Senior Second Lien Notes

W&T Offshore, Inc. (WTI) 
Last w&t offshore, inc. earnings: 3/4 04:45 pm Check Earnings Report
Company Research Source: PR Newswire
HOUSTON, Oct. 5, 2018 /PRNewswire/ -- W&T Offshore, Inc. (NYSE: WTI) ("W&T Offshore" or the "Company") announced today the pricing of its previously announced private offering of $625.0 million in aggregate principal amount of senior second lien notes due 2023 (the "Notes"). The Notes, which priced at par, will mature on November 1, 2023, and will pay interest at an annual rate of 9.75%. The closing of the offering of the Notes is expected to occur on October 18, 2018, subject to customary closing conditions. W&T Offshore intends to use the net proceeds of the offering, together with borrowings from a proposed amended revolving bank credit facility and cash on hand, to (i) repay and retire its outstanding 11.00% 1.5 Lien Term Loan and 9.00% Second Lien Term Loan and (ii) redeem or repurchase in full all of its outstanding 8.500% Senior Unsecured Notes due 2019, 9.00%/10.75% Second Lien PIK Toggle Notes due 2020 and 8.50%/10.00% Third Lien PIK Toggle Notes due 2021. In connection with Show less Read more
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