Endeavor Energy to price $300 million eight-year notes Monday

By Paul A. Harris

Portland, Ore., April 6 – Endeavor Energy Resources, LP and EER Finance, Inc. plan to price a $300 million offering of eight-year senior notes Monday afternoon trailing a mid-morning conference call with investors, according to a syndicate source.

Credit Suisse Securities (USA) LLC, BofA Merrill Lynch, Wells Fargo Securities LLC, Credit Agricole CIB, UnionBank, US Bank and BMO Securities are joint bookrunners for the Rule 144A and Regulation S for life offering.

The notes become callable after three years at par plus 75% of the coupon and feature a three-year 35% equity clawback and a 101% poison put.

The Midland, Texas-based company plans to use the proceeds to refinance a portion of its outstanding ABL borrowings.

Endeavor Energy Resources is an oil and gas exploration and production company primarily focused on the Permian Basin.

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