Finance & Investing | Debt | Capital Markets
EXCO Resources Prices $500 Million Senior Note Offering
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EXCO Resources, Inc. has priced an underwritten offering of $500.0 million aggregate principal amount of 8.500% Senior Notes due 2022, at a price equal to 100% of principal amount.
EXCO expects to receive net proceeds of approximately $490.0 million from the offering, after deducting discounts to the underwriters and estimated offering expenses. EXCO intends to use the net proceeds from the offering to repay all outstanding amounts under the term loan, and the remainder will be used to reduce the revolving commitment under EXCO’s Amended and Restated Credit Agreement. EXCO expects to close the sale of the Notes on or about April 16, 2014, subject to the satisfaction of customary closing conditions.
J.P. Morgan Securities LLC, Wells Fargo Securities, LLC, Merrill Lynch, Pierce, Fenner &…
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