Rosetta Resources shops $450 million 8.5-year notes with yield guidance in high 5% range

By Paul A. Harris

Portland, Ore., Nov. 7 - Rosetta Resources Inc. is shopping a quick-to-market $450 million offering of 8.5-year senior notes (B2/B+) with guidance in the high 5% range, according to a syndicate source.

Formal price talk is expected around noon ET on Thursday, and the deal will price thereafter.

Wells Fargo Securities LLC, Citigroup Global Markets Inc., J.P. Morgan Securities LLC and Morgan Stanley & Co. LLC are the joint bookrunners for the public offering.

The notes come with four years of call protection.

The Houston-based energy exploration and production company plans to use the proceeds to pay off its revolver in full and for general corporate purposes.

Rosetta Resources owns well-delineated positions in the Eagle Ford area in South Texas and in the Permian Basin.

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