W&T Offshore to start roadshow Monday for $450 million seven-year notes

By Paul A. Harris

St. Louis, June 1 - W&T Offshore, Inc. will start a roadshow on Monday for its $450 million offering of seven-year senior notes (expected B3/confirmed B-), according to market sources.

Pricing is expected late in the week of June 4.

Morgan Stanley has the books for the Rule 144A for life and Regulation S offering.

Goldman Sachs & Co., Lehman Brothers, Merrill Lynch & Co., BNP Paribas, Fortis Securities, BMO Nesbitt Burns, Natexis Bleichroeder, RBC Capital Markets, SunTrust Robinson Humphrey and TD Securities are also involved in the syndicate of managers.

Proceeds will be used to reduce bank debt.

The prospective issuer is a Houston-based independent oil and natural gas company focused primarily in the Gulf of Mexico, including exploration in the deepwater and deep shelf regions.

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