This Day On The Street
Continue to site right-arrow
This account is pending registration confirmation. Please click on the link within the confirmation email previously sent you to complete registration.
Need a new registration confirmation email? Click here
TheStreet Open House

Denbury Commences Offers For Encore Senior Subordinated Notes

Tenders of Notes will be accepted only in principal amounts of $1,000 or integral multiples thereof. The total consideration for each $1,000 principal amount of Notes tendered and accepted for purchase pursuant to the Offers will be $1,012.50 (the “Consideration”), which amount includes a payment of $2.50 per $1,000 principal amount of the Notes in consideration for the Consents. If Notes are accepted for purchase by the Company, the consent payment will be paid whether or not a supplemental indenture enacting the Proposed Amendments is executed and delivered with respect to the applicable series of Notes. Pursuant to the terms of each of the indentures governing the Notes, the Proposed Amendments require the written Consent of the holders of a majority in aggregate principal amount of the applicable series of the then outstanding Notes. In addition, the Company will pay accrued interest, if any, on the Notes upon the terms and subject to the conditions described in the Offers and the Solicitations. The Company expects to pay the Consideration from a portion of the proceeds from the issuance by the Company on or about February 10, 2010 of $1.0 billion of new 8 ¼% senior subordinated notes due 2020.

The valid tender of Notes by a holder pursuant to the Offers will be deemed to constitute the giving of a Consent by that holder to the Proposed Amendments. The Company is not soliciting and will not accept Consents from holders who are not tendering their Notes pursuant to the Offers. Notes validly tendered and Consents delivered pursuant to the Offers may be validly withdrawn and the concurrent Consents validly revoked in writing at any time prior to the Expiration Date by complying with the procedures set forth in the Offer Documents.

The Company’s obligation to accept for purchase and to pay for Notes validly tendered and not withdrawn pursuant to the Offers is subject to the satisfaction or waiver, in the Company’s discretion, of certain conditions, which are more fully described in the Statement, including, among others, the consummation of the merger of Encore with and into the Company. The complete terms and conditions of the Offers and the Solicitations are set forth in the Offer Documents, which are being sent to holders of Notes. Holders of Notes are urged to read the Offer Documents carefully.

2 of 4

Check Out Our Best Services for Investors

Action Alerts PLUS

Portfolio Manager Jim Cramer and Director of Research Jack Mohr reveal their investment tactics while giving advanced notice before every trade.

Product Features:
  • $2.5+ million portfolio
  • Large-cap and dividend focus
  • Intraday trade alerts from Cramer
Quant Ratings

Access the tool that DOMINATES the Russell 2000 and the S&P 500.

Product Features:
  • Buy, hold, or sell recommendations for over 4,300 stocks
  • Unlimited research reports on your favorite stocks
  • A custom stock screener
Stocks Under $10

David Peltier uncovers low dollar stocks with serious upside potential that are flying under Wall Street's radar.

Product Features:
  • Model portfolio
  • Stocks trading below $10
  • Intraday trade alerts
14-Days Free
Try it NOW
Only $9.95
Try it NOW
14-Days Free
Try it NOW

Check Out Our Best Services for Investors

Dividend Stock Advisor

David Peltier identifies the best of breed dividend stocks that will pay a reliable AND significant income stream.

Product Features:
  • Diversified model portfolio of dividend stocks
  • Updates with exact steps to take - BUY, HOLD, SELL
Trifecta Stocks

Every recommendation goes through 3 layers of intense scrutiny—quantitative, fundamental and technical analysis—to maximize profit potential and minimize risk.

Product Features:
  • Model Portfolio
  • Intra Day Trade alerts
  • Access to Quant Ratings
Options Profits

Our options trading pros provide over 100 monthly option trading ideas and strategies to help you become a well-seasoned trader.

Product Features:
  • Actionable options commentary and news
  • Real-time trading community
Try it NOW
Try it NOW
Try it NOW
To begin commenting right away, you can log in below using your Disqus, Facebook, Twitter, OpenID or Yahoo login credentials. Alternatively, you can post a comment as a "guest" just by entering an email address. Your use of the commenting tool is subject to multiple terms of service/use and privacy policies - see here for more details.
Submit an article to us!
EAC $4.43 2.07%
AAPL $126.37 2.53%
FB $83.20 -0.13%
GOOG $552.03 0.67%
TSLA $190.57 3.01%


DOW 17,976.31 +263.65 1.49%
S&P 500 2,086.24 +25.22 1.22%
NASDAQ 4,947.4410 +56.2220 1.15%

Partners Compare Online Brokers

Free Reports

Free Newsletters from TheStreet

My Subscriptions:

After the Bell

Before the Bell

Booyah! Newsletter

Midday Bell

TheStreet Top 10 Stories

Winners & Losers

Register for Newsletters
Top Rated Stocks Top Rated Funds Top Rated ETFs