The Notes bear interest at 9.625% per annum, payable semi-annually, and are due in 2017. The issue was part of a significant structuring of the Issuers' debt, and the transaction involved a pay-down of first lien debt of the Issuers, and replacement of their first lien credit facilities with the Notes. The Notes are secured by first priority liens on the Issuers' U.S. based oil and gas assets, and rank senior to the Issuers existing 12.5% senior secured notes that were issued in 2012. In addition to repaying debt, the proceeds of the fund raising will enable the Company to undertake a
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