Denbury to pay down facility borrowings with stock proceeds

By Jennifer Chiou

New York, April 19 - Denbury Resources Inc. said it intends to pay down $120 million of borrowings under its credit facility using the proceeds of a stock offer.

The company announced it plans to sell $125 million of its stock on or about April 25.

The underwriters will have an $18.75 million greenshoe.

Based in Dallas, Denbury is the largest oil and natural gas operator in Mississippi.

© 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.