Resource America to bring $30 million five-year deal

By Paul A. Harris

St. Louis, Feb. 11 - Resource America, Inc. announced its intention to bring a registered offering of $30 million of 12% senior notes due 2008 in a Tuesday filing with the Securities and Exchange Commission,

The filing identified Bear Stearns & Co. and Friedman Billings Ramsey as joint bookrunners.

No timing on the new deal was given in the filing.

The notes will be callable on Aug. 1, 2006 at 106.

Concurrently with this bond sale, Resource America is offering up to $65.336 million of new notes in exchange for all of its outstanding 12% senior notes due 2004.

On Sept. 26, 2002 the Philadelphia-based company, which develops, produces and transports oil and natural gas in the Appalachian Basin, pulled its offering of $125 million of eight-year senior notes (B3/B), citing "volatile market conditions," according to a press release.

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