Ultra Petroleum talks $400 million five-year notes to yield 5¾%-5 7/8%

By Paul A. Harris

Portland, Ore., Dec. 5 - Ultra Petroleum Corp. talked its $400 million offering of five-year senior notes (/BB/) to yield 5¾% to 5 7/8%, a market source said on Thursday.

The deal is expected to price on Friday.

Goldman Sachs & Co., Citigroup Global Markets Inc., Wells Fargo Securities LLC, J.P. Morgan Securities LLC and CIBC World Markets are the joint bookrunners for the Rule 144A with registration rights and Regulation S offering.

The notes come with two years of call protection.

The Houston-based independent exploration and production company plans to use the proceeds to fund a portion of the purchase price of its recently announced Uinta Basin acquisition.

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