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Energy XXI Gulf Coast, Inc. Announces Pricing Of $500 Million Upsized Offering Of Senior Notes

HOUSTON, Sept. 23, 2013 (GLOBE NEWSWIRE) -- Energy XXI Gulf Coast, Inc. (the "Company"), the operating subsidiary of Energy XXI (Bermuda) Limited ("Energy XXI") (Nasdaq:EXXI) (LSE:EXXI), today announced the pricing of its private placement of $500 million of 7.50% senior unsecured notes due 2021 (the "2021 Notes"). The offering size was increased to $500 million from $300 million. The 2021 Notes were sold at 100% of par to yield 7.50% to maturity. The offering is expected to close on September 26, 2013, subject to customary closing conditions.
Energy XXI Logo (EPR)

The Company intends to use all of the net proceeds from the offering to repay indebtedness outstanding under its revolving credit facility and for general corporate purposes.

The 2021 Notes have not been registered under the Securities Act of 1933, as amended (the "Securities Act"), or any state securities laws; and unless so registered, may not be offered or sold in the United States except pursuant to an exemption from, or in a transaction not subject to, the registration requirements of the Securities Act and applicable state securities laws.

This press release is being issued pursuant to Rule 135C under the Securities Act, and is neither an offer to sell nor a solicitation of an offer to buy the 2021 Notes or any other securities and shall not constitute an offer to sell or a solicitation of an offer to buy, or a sale of, the 2021 Notes or any other securities in any jurisdiction in which such offer, solicitation or sale is unlawful.

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