Berry Petroleum Plans To Issue Senior Notes

Stock quotes in this article: BRY  

NEW YORK (AP) — Shares of oil and gas producer Berry Petroleum Co. fell Tuesday after the company said it plans to raise $75 million by issuing 10.25 percent senior notes.

The Denver-based company said it will use the proceeds to help pay off its debt. The notes are due in 2014. The company issued $325 million of senior notes on May 27.

After the announcement, shares of Berry Petroleum fell $1.32, or 5.5 percent, to $22.66 in afternoon trading.

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