XTO Energy To Buy Debt

By Dallas Business Journal

XTO Energy Inc, now an Exxon Mobil Corp. subsidiary, said Tuesday it will pay cash for senior notes due in 2012 and 2013.

The Fort Worth-based company (NYSE: XTO) said it will be buying outstanding 7.5 percent senior notes due in 2012 and 6.25 percent senior notes due in 2013.

The buy-back is part of XTO Energyâ¿¿s agreement with bondholders, which stipulates under terms of a change in ownership, XTO has to offer to repurchase debt from bondholders.

XTO merged into Irving-based ExxonMobil on June 25, becoming a wholly-owned subsidiary of the oil conglomerate.

Copyright 2010 American City Business Journals

http://dallas.bizjournals.com/dallas/stories/2010/07/12/daily12.html?ana=thestreet

Copyright bizjournals.com 2010

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