EEX postpones $350 mln sr unsec note offering

New York, Oct. 1 - EEX Corp. said it has postponed indefinitely its planned offering of $350 million of seven-year senior unsecured notes.

The Houston oil and natural gas exploration and production company said it had taken the decision because of "debt market conditions following the recent tragic terrorist attacks."

"We will be monitoring the debt market with the intention of resuming our bond offering when market conditions allow,"' said Rich Langdon, executive vice president, chief financial officer for EEX, in a news release.

EEX had been scheduled to sell $350 million of the Rule 144A notes via J.P. Morgan, although the deal was already pending "favorable market conditions."

Proceeds had been slated to repay bank borrowings.

End

© 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.