Denbury Resources Inc. - 2011-02-04

Description

Priced its offering of senior subordinated notes due Aug. 15, 2021. The notes will carry a coupon rate of 6 3/8% and are being sold at 100% of par.

Net proceeds will be used to partially fund tender offers for the company's $225-million principal amount of 7 1/2% senior subordinated notes due 2013, and the company's $300-million principal amount of 7 1/2% senior subordinated notes due 2015.

Merrill Lynch Pierce Fenner & Smith Inc., J.P. Morgan Securities LLC Inc., Credit Suisse Securities (USA) LLC,UBS Securities LLC,RBC Capital Markets LLC, Wells Fargo Securities LLC were joint book-running managers. BNP Paribas Securities Corp., Scotia Capital (USA) Inc., Credit Agricole Securities (USA) Inc.,Lloyds TSB Bank plc, BBVA Securities Inc., Capital One Southcoast Inc., CIBC World Markets Corp., Comerica Securities Inc., ING Financial Markets LLC, KeyBanc Capital Markets Inc., Mitsubishi UFJ Securities (USA) Inc., SMBC Nikko Capital Markets Ltd., SunTrust Robinson Humphrey Inc. and U.S. Bancorp Investments Inc. were co-managers.

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Estimated Price
$400.0MM
Financing Type
Report Date