Evergreen Resources to start roadshow Monday for $200 million eight-year deal

By Paul A. Harris

St. Louis, Feb. 26 - Evergreen Resources Inc. will start a roadshow Monday for a $200 million offering of eight-year senior subordinated notes (Ba3/B+), a syndicate source said.

The deal is expected to price on March 5.

Goldman Sachs & Co. will run the books on the Rule 144A deal. BNP Paribas, UBS Investment Bank and Wachovia Securities are joint lead managers. The co-managers are AG Edwards, BancOne Capital Markets, First Albany, Hibernia, Howard Weil, Raymond James, RBC.

The notes will come with four years of call protection.

Proceeds will be used to repay $149.5 million of bank debt, to fund future development expenditures and for general corporate purposes.

The Denver-based independent energy company is engaged primarily in the exploration, development, production, operation, and acquisition of unconventional natural gas properties.

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