Denbury Resources Inc. (NYSE: DNR) has launched a public offering of $1 billion of senior subordinated notes due 2023.

Net proceeds will be used to fund the repurchase of any and all of its $426.4 million aggregate principal amount of 9.75% senior subordinated notes due March 2016 and any and all of its $224.9 million aggregate principal amount of 9.5% senior subordinated notes due May 2016, for which tender offers were announced earlier today. The remaining proceeds will be used for repayment of current borrowings under its bank credit facility ...