Oil and gas producer Mariner Energy Inc. said Friday it priced an offering of stock and senior notes, which will be used to pay down its debt.
Mariner said it will sell 10 million shares of stock at $14.50 per share, a discount of about 1 percent to the stock's Thursday closing price of $14.65. The underwriters of the offer will have the option to buy an additional 1.5 million shares.
The company also agreed to sell $300 million in senior notes due 2016. Mariner said Tuesday that it would sell $250 million in notes. The sales are expected to close on Wednesday.
In premarket trading, Mariner shares rose 25 cents to $14.90.
source: yahoo
Mariner said it will sell 10 million shares of stock at $14.50 per share, a discount of about 1 percent to the stock's Thursday closing price of $14.65. The underwriters of the offer will have the option to buy an additional 1.5 million shares.
The company also agreed to sell $300 million in senior notes due 2016. Mariner said Tuesday that it would sell $250 million in notes. The sales are expected to close on Wednesday.
In premarket trading, Mariner shares rose 25 cents to $14.90.
source: yahoo
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