The Enid News and Eagle, Enid, OK

Local news

April 2, 2013

Continental announces an offering of $1 billion in senior security notes

ENID, Okla. — OKLAHOMA CITY — Continental Resources announced Tuesday that, subject to market conditions, it intends to offer $1 billion in aggregate principal amount of new senior notes in a private placement to eligible purchasers.

Continental intends to use the net proceeds of this offering of the notes to repay a portion of its borrowings outstanding under its revolving credit facility and for general corporate purposes.

The securities to be offered have not been registered under the Securities Act of 1933 or any state securities laws; and unless so registered, the securities may not be offered or sold in the United States except pursuant to an exemption from, or in a transaction not subject to, the registration requirements of the Securities Act and applicable state securities laws.

The senior unsecured notes are expected to be eligible for trading by qualified institutional buyers under Rule 144A and non-U.S. persons under Regulation S.

On Monday, Continental shares finished at $87.03.

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