SM Energy to repay debt, may call 3.5% convertibles with note proceeds

By Susanna Moon

Chicago, Nov. 3 - SM Energy Co. said it will use proceeds from a notes offering to repay outstanding debt under its credit facility and also may use the proceeds to redeem its 3.5% senior convertible notes, which are callable beginning April 6, 2012.

SM Energy plans to offer $300 million of senior notes due 2021 in a private placement, according to a company press release.

Proceeds also will be used for general corporate purposes.

SM Energy is a Denver-based independent energy company focused on the acquisition and production of natural gas and crude oil.

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