Endeavour to repay 15% term loan, redeem 12% notes via issue proceeds

By Susanna Moon

Chicago, June 7 - Endeavour International Corp. said it plans to use proceeds from a notes offering to repay its 15% senior term loan due 2013 and to redeem or repurchase its 12% subordinated notes due 2014.

Endeavour plans to offer up to $250 million principal amount of senior notes due 2016 in a private placement, according to a press release.

Proceeds also will be used for general corporate purposes.

Endeavour is a Houston-based acquirer, explorer and developer of energy reserves.

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