Akin Gump Advises Laredo Petroleum in Pair of Offerings

(Houston) – Akin Gump advised Laredo Petroleum, Inc. in an underwritten public offering of 69 million shares of its common stock, which closed today at a price to the public of $11.05 per share, including all 9 million shares of common stock that were subject to the underwriter`s option to purchase additional shares.

Laredo intends to use the net proceeds from the sale of the shares of common stock, together with the net proceeds from its previously announced senior notes offering, to repay all of its outstanding indebtedness under its senior secured credit facility, to redeem the outstanding $550 million of its 9 ½ % senior unsecured notes due 2019 and for capital expenditures.

In a separate transaction, Akin Gump advised Laredo Petroleum on the offering of $350 million in aggregate principal amount of 6 ¼ % senior notes due 2023. The offering is expected to close March 18, subject to customary closing conditions.

Christine LaFollette, partner in charge of Akin Gump’s Houston office and a member of the firm’s oil & gas and natural resources practice, led the teams advising Laredo Petroleum on both of these transactions. She was joined in the first deal by tax partner Thomas Weir, oil & gas and natural resources counsel Alexandra Reuss, and oil & gas and natural resources associates Christopher Centrich and Brandon Hauver.

The team on the second transaction included all those noted above, plus partners Shar Ahmed, Bill Morris, Chip Cowell and Eric Munoz; counsel Freddy Feldman; and associate Adam Garmezy. All of them are members of the oil & gas and natural resources practice.

Founded in 1945, Akin Gump Strauss Hauer & Feld LLP is a leading international law firm with more than 900 lawyers in offices throughout the United States, Europe, Asia and the Middle East.

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