Add to balance / Manage account | User: | Log out |
Prospect News home > News index > List of issuers E > Headlines for Energy XXI (Bermuda) Ltd. > News item |
Energy XXI to repay revolver with funds from senior notes offering
By Marisa Wong
Madison, Wis., May 12 - Energy XXI Gulf Coast, Inc., the operating subsidiary of Energy XXI (Bermuda) Ltd., plans to repay all outstanding debt under its revolving credit facility using proceeds from an offering of senior notes, according to a press release.
The company announced on Monday that it plans to offer up to $300 million of senior notes due 2024.
Proceeds from the new notes will also be used to fund Energy XXI's pending acquisition of EPL Oil & Gas Inc. If the acquisition is not completed, the company will use the remaining proceeds for general corporate purposes.
Energy XXI is a Hamilton, Bermuda-based oil and natural gas exploration and production company.
© 2015 Prospect News.
All content on this website is protected by copyright law in the U.S. and elsewhere.
For the use of the person downloading only.
Redistribution and copying are prohibited by law without written permission in advance from Prospect News.
Redistribution or copying includes e-mailing, printing multiple copies or any other form of reproduction.