Laredo Plans Debt as High-Yield Spreads Narrow: New Issue Alert
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Laredo Petroleum Inc., an independent exploration and production company, is marketing debt as the premium investors accept to own high-yield, high-risk debt instead of Treasuries fell to the lowest since November 2007.
Laredo plans to sell $300 million of eight-year notes, according to a person familiar with the offering. The debt from the Tulsa, Oklahoma-based company may be issued as soon as next week, said the person, who declined to be identified because terms aren’t set.