Tellurian to raise $50 million through notes offering

US LNG firm Tellurian intends to raise $50 million through an offering of senior notes, it said on Friday.

Tellurian said in a statement it had priced the underwritten public offering of $50 million aggregate principal amount of 8.25% senior notes due 2028.

In addition, the Driftwood LNG developer has granted the underwriters a 30-day option to purchase an additional $7.5 million aggregate principal amount of senior notes in connection with the offering.

The Houston-based company intends to use the net proceeds from this offering for general corporate purposes, including the potential acquisition of upstream assets.

Tellurian expects the offering to close on or about August 30, subject to satisfaction of customary closing conditions.

Earlier this month, Tellurian said it would raise $105 million through a sale of its shares in an underwritten public offering.

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