PLANO, Texas, April 16, 2014 (GLOBE NEWSWIRE) -- Denbury Resources Inc. (NYSE: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 $1.1 billion of Senior Subordinated Notes due 2022. Denbury intends to use the net proceeds from the offering to fund all or substantially all of the costs of its repurchase of all $996.3 million aggregate outstanding principal amount of its 8¼% Senior Subordinated Notes due 2020 ("2020 Notes"), for which a tender offer and consent solicitation was announced earlier today ("Tender Offer"). To the extent the Company purchases less than all of the outstanding 2020 Notes in the Tender Offer or the Tender Offer is not consummated for any reason, pursuant to the make-whole provision in the indenture governing the 2020 Notes in connection with a satisfaction and discharge of such indenture, the Company intends to use the net proceeds from the offering to redeem the 2020 Notes not purchased in the Tender Offer.
Denbury Announces Offering Of Senior Subordinated Notes
Check Out Our Best Services for Investors
- $2.5+ million portfolio
- Large-cap and dividend focus
- Intraday trade alerts from Cramer
Access the tool that DOMINATES the Russell 2000 and the S&P 500.
- Buy, hold, or sell recommendations for over 4,300 stocks
- Unlimited research reports on your favorite stocks
- A custom stock screener
- Model portfolio
- Stocks trading below $10
- Intraday trade alerts