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Business cover briefs for Aug. 14

Business cover briefs for Aug. 14
Published: August 14, 2012
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In brief

Continental

to sell notes

Continental Resources Inc. is planning to sell $1.2 billion in new 5 percent senior notes in a private placement to eligible buyers, the company announced Monday. The new notes will be part of the series of senior notes issued in March. They were priced at 102.375 percent of par, resulting in a yield to worst of 4.624 percent with respect to the new notes. The offering is expected to close Aug. 16. Proceeds will be used to repay debt and for general corporate purposes.

Credit card

debt grows

Americans are carrying more credit card debt than a year ago, yet the late-payment rate for card holders remains near an 18-year low, an analysis of consumer-credit data shows. The average credit card debt per borrower in the U.S. grew about 6 percent in the second quarter from a year earlier, TransUnion said Tuesday. The rate of payments at least 90 days overdue inched higher to 0.63 percent from 0.60 percent in the same period last year.

From Staff and Wire Reports