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St. Mary to sell $75 million convertibles
New York, March 5 - St. Mary Land and Exploration Co. said it plans to sell $75 million of senior convertible notes due 2022.
Proceeds will be used to temporarily repay outstanding borrowings on the Denver, Colo. oil and gas company's revolving credit facility and then to fund part of St. Mary's 2002 capital expenditures.
The Rule 144A offering has a $15 million greenshoe.
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