Encore Acquisition to price $150 million 10-year notes Tuesday afternoon

By Paul A. Harris

St. Louis, March 29 - Encore Acquisition Co. plans to price $150 million of 10-year senior subordinated notes (B2/B) on Tuesday afternoon, a market source said.

An investor conference call is scheduled for 11 a.m. ET Tuesday.

Goldman Sachs is the bookrunner on the Rule 144A deal. Credit Suisse First Boston is joint lead manager. The co-managers are Fleet Securities, Deutsche Bank Securities, JP Morgan, BNP Paribas, Fortis, KeyBank and Stanford Group.

The notes will come with five years of call protection.

Proceeds will be used to fund the Cortez Oil & Gas Inc. acquisition announced on March 2 and to repay bank debt.

Encore is a Fort Worth, Texas-based independent energy company engaged in the acquisition, development and exploitation of North American oil and natural gas reserves.

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