Denbury Announces Offering Of Senior Subordinated Notes

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.

Wells Fargo Securities, BofA Merrill Lynch, Credit Suisse Securities, J.P. Morgan, Credit Agricole Securities, and RBC Capital Markets are acting as joint book-running managers for this senior subordinated notes offering. When available, a copy of the final prospectus for the offering may be obtained on the SEC's website at www.sec.gov . Alternatively, the underwriters will arrange to send you the prospectus upon request to: Wells Fargo Securities at 550 South Tryon St., 7th floor, Charlotte, NC 28202, Attn: Client Support or by email at cmclientsupport@wellsfargo.com or by calling (800) 326-5897; BofA Merrill Lynch at 222 Broadway, 11th Floor, New York, NY 10038, Attn: Prospectus Department or by email at dg.prospectus_requests@baml.com; Credit Suisse Securities at One Madison Avenue, New York, NY 10010, Attn: Prospectus Department or by calling (800) 221-1037 or by email at newyork.prospectus@credit-suisse.com; or J.P. Morgan c/o Broadridge Financial Solutions, 1155 Long Island Avenue, Edgewood, NY 11717 or by calling (866) 803-9204.

This news release is neither an offer to sell nor a solicitation of an offer to buy any securities and shall not constitute an offer, solicitation or sale in any jurisdiction in which such offer, solicitation or sale would be unlawful.  Such an offer can only be made by delivery of a prospectus that has been filed with the SEC. The Tender Offer announced today is being made pursuant to an Offer to Purchase and Consent Solicitation Statement, dated April 16, 2014, and related Letter of Transmittal and Consent. Under no circumstances shall this press release constitute an offer to buy or the solicitation of an offer to sell the 2020 Notes.   

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