Energy XXI Gulf Coast marketing $700 million seven-year secured notes

By Paul A. Harris

St. Louis, Nov. 30 - Energy XXI Gulf Coast, Inc. will conduct a brief investor roadshow for its $700 million offering of seven-year senior secured notes, according to market sources.

The roadshow runs through Thursday.

RBS Securities Inc., UBS Investment Bank and BNP Paribas Securities Corp. are the joint bookrunners.

The notes come with three years of call protection.

Proceeds, together with a draw on the company's revolver and cash on hand from recent equity offerings, will be used to finance the purchase of certain shallow-water Gulf of Mexico shelf oil and natural gas interests from ExxonMobil and to repurchase or redeem its 16% second-lien junior secured notes due 2014.

The prospective issuer is a Houston-based oil and gas exploration and production company.

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