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Cimarex tenders for Magnum Hunter's $195 million 9.6% notes, $125 million floating-rate convertibles
By Jennifer Chiou
New York, July 6 - Cimarex Energy Co. announced a cash offer for any and all of its outstanding $195 million 9.6% senior notes due 2012 and any and all of its outstanding $125 million floating-rate convertible senior notes due 2023.
The offers for the notes, both originally issued by Magnum Hunter Resources, Inc., end at 5 p.m. ET on Aug. 5, unless extended.
For the 9.6% notes, the company will pay 101% of the principal amount plus accrued interest up to and including the third business day after the expiration date.
The company will repurchase the convertibles at 100% of the principal amount plus accrued interest up to, but not including, the expiration date.
Cimarex is required to tender for the notes under their indentures following the closing of its merger with Magnum Hunter on June 7.
Deutsche Bank Trust Co. Americas is the depositary and the information agent for the offers (800 735-7777).
Denver-based Cimarex Energy Co. is an independent oil and gas exploration and production company.
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