EXCO Resources to price $400 million eight-year notes April 7 week

By Paul A. Harris

Portland, Ore., April 8 - EXCO Resources, Inc. plans to price a $400 million offering of eight-year senior notes before the end of the April 7 week, according to a market source.

J.P. Morgan Securities LLC, Wells Fargo Securities LLC, BofA Merrill Lynch and BMO Capital Markets are the joint bookrunners for the public offering.

Credit Suisse Securities (USA) LLC, ING, Natixis Securities and UBS Investment Bank are the senior co-managers.

Capital One Securities, CIT Capital Securities, Deutsche Bank Securities Inc. and Goldman Sachs & Co. are the co-managers.

The notes come with three years of call protection.

The Dallas-based oil and gas company plans to use the proceeds to repay the $297.8 million term loan and a portion of the revolver used to fund the acquisition of the Chesapeake Properties in July 2013 and for general corporate and working capital purposes.

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