Endeavour starts roadshow for $250 million five-year senior notes

By Paul A. Harris

Portland, Ore., June 7 - Endeavor International Corp. began a brief roadshow on Tuesday for a $250 million offering of five-year senior notes (expected ratings Caa2/CCC), according to an informed source.

The roadshow wraps up on Thursday.

Citigroup Global Markets Inc. has the books.

Cyan Capital Markets is the lead co-manager. FBR Capital Markets, Global Hunter Securities, Houlihan Lokey and Imperial Capital are the co-managers.

The Rule 144A and Regulation S with registration rights notes come with 2.5 years of call protection and feature a three-year 35% equity clawback and a 101% poison put.

The Houston-based independent oil and gas company plans to use the proceeds to repay all outstanding amounts under its senior term loan and its subordinated notes and to fund general corporate purposes.

© 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.