US independent Gastar Exploration has reached a financing deal with private equity firm Ares Management that will help the explorer pay down debt and continue delineating its position in the emerging Stack play of Oklahoma.
The agreement includes $425 million in new financing in the form of a $250 million secured term loan, $125 million secured convertible notes and a $50 million common stock issuance
Proceeds will be used to fully repay Gastar's existing $70.4
