Cimarex plans $600 million 10-year bullet in Tuesday drive-by

By Paul A. Harris

Portland, Ore., May 20 - Cimarex Energy Co. plans to take part in an investor conference call at 11:30 a.m. ET on Tuesday to discuss its $600 million offering of non-callable 10-year senior notes (expected ratings Ba1/BB+), according to a syndicate source.

The deal is set to price this afternoon.

Wells Fargo Securities LLC is the left bookrunner for the public offering. Deutsche Bank Securities Inc., J.P. Morgan Securities LLC, Mitsubishi UFJ Securities and U.S. Bancorp Investments Inc. are the joint bookrunners.

BB&T, BBVA, Bank One South Coast, Capital One, CIBC World Markets, Comerica, Goldman Sachs & Co., ING, KeyBanc Capital Markets and Santander are the co-managers.

The Denver-based oil and gas exploration and production company plans to use the proceeds for general corporate purposes, which include paying down its revolver.

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