QEP Resources Inc.
Description
QEP Resources Inc. has commenced a $500 million offering of senior notes due 2026. The notes will bear interest at a rate of 5.625% per annum and will be issued at par. QEP intends to use approximately $134 million of the net proceeds from the offering to redeem its outstanding 6.80% senior notes due 2018 and the remainder of the net proceeds to fund the $361 million aggregate principal amount of its outstanding 6.80% senior notes due 2020 and 6.875% senior notes due 2021.