Denbury Closes $450 Million Offering Of New 7½% Senior Secured Second Lien Notes Due 2024
21 Agosto 2018 - 6:30PM
Denbury Resources Inc. (NYSE:DNR) (“Denbury” or the “Company”)
today announced the closing of its previously announced private
offering (the “Offering”) of $450 million aggregate principal
amount of 7½% Senior Secured Second Lien Notes due 2024 (the “New
Second Lien Notes”). The Company used the net proceeds from
the Offering to repay all of its outstanding borrowings under its
bank credit facility and to pay fees and expenses of the Offering,
with the remaining proceeds to be used for general corporate
purposes.
The New Second Lien Notes have not been and will
not be registered under the U.S. Securities Act of 1933, as
amended, or under any state or other securities laws, and the New
Second Lien Notes were issued pursuant to an exemption therefrom,
and may not be offered or sold within the United States, or to or
for the account or benefit of any U.S. Person, absent registration
or an applicable exemption from registration requirements.
This press release contains forward-looking
statements that involve risks and uncertainties that are based on
assumptions that management believes are reasonable based on
currently available information.
Denbury is an independent oil and natural gas
company with operations focused in two key operating areas: the
Gulf Coast and Rocky Mountain regions. The Company’s goal is
to increase the value of its properties through a combination of
exploitation, drilling and proven engineering extraction practices,
with the most significant emphasis relating to CO2 enhanced oil
recovery operations.
DENBURY CONTACTS:
Mark C. Allen, Executive Vice President and Chief Financial Officer, 972.673.2000
John Mayer, Director of Investor Relations, 972.673.2383
Denbury Resources (NYSE:DNR)
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