Oklahoma City-based Chaparral Energy announced it has priced $300 million in unsecured notes due 2023.
The company intends to use the proceeds from the 8.750% notes to pay down the outstanding balance of its revolving credit facility and for general corporate purposes.
The offering is expected to close June 29. The company said the senior notes have not been and will not be registered under the Securities Act of 1933.
According to the announcement, the notes will be offered in the U.S. only to persons reasonably believed to be qualified institutional buyers in reliance with the Securities Act.