DNR issues new debt
Posted: Tue Jan 22, 2013 9:24 am
to pay off high cost debt. Looks like a good move to me.
PLANO, Texas, Jan. 22, 2013 (GLOBE NEWSWIRE) -- Denbury Resources Inc. (DNR) ("Denbury" or the "Company") announced today that it has filed a registration statement with the Securities and Exchange Commission ("SEC") relating to the public offering of $1.0 billion of senior subordinated notes due 2023. Denbury intends to use the net proceeds from the offering to fund the repurchase of any and all of its $426.4 million aggregate principal amount of 9.75% senior subordinated notes due March 2016 and any and all of its $224.9 million aggregate principal amount of 9.5% senior subordinated notes due May 2016, for which tender offers were announced earlier today. The remaining proceeds from this offering will be used for repayment of current borrowings under its bank credit facility and then for general corporate purposes.
PLANO, Texas, Jan. 22, 2013 (GLOBE NEWSWIRE) -- Denbury Resources Inc. (DNR) ("Denbury" or the "Company") announced today that it has filed a registration statement with the Securities and Exchange Commission ("SEC") relating to the public offering of $1.0 billion of senior subordinated notes due 2023. Denbury intends to use the net proceeds from the offering to fund the repurchase of any and all of its $426.4 million aggregate principal amount of 9.75% senior subordinated notes due March 2016 and any and all of its $224.9 million aggregate principal amount of 9.5% senior subordinated notes due May 2016, for which tender offers were announced earlier today. The remaining proceeds from this offering will be used for repayment of current borrowings under its bank credit facility and then for general corporate purposes.