Exco Resources $100 million add-on to 7¼% notes due 2011 talked at 103.25

By Paul A. Harris

St. Louis, March 31 - Price talk is 103.25 on Exco Resources' proposed $100 million add-on to its 7¼% senior notes due Jan. 15, 2011, according to an informed source.

Terms on the deal are expected to emerge Thursday.

Credit Suisse First Boston is the bookrunner.

The notes become callable after Jan. 15, 2007 at 104.438, with the call premium declining annually from that date to 103.625, 101.813, and to par on or after Jan. 15, 2010. The notes also contain an equity clawback until Jan. 15, 2007 for 35% at 107.25.

Proceeds will be used to repay the company's existing credit facility and for general corporate purposes.

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

The original $350 million issue priced on Jan. 14, 2004.

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