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McMoRan Exploration Completes Convertible Senior Notes Exchange Offer

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September 13, 2012

McMoRan Exploration Co. (MMR) announced results from the exchange offer for up to $68.2 million aggregate principal amount of 5 1/4% convertible senior notes due 2012. A total of $67.8 million of the existing notes were accepted for exchange for an equal principal amount of newly issued 5 1/4% convertible senior notes due 2013.

The amount of existing notes exchanged represents over 99 percent of the aggregate principal amount outstanding upon commencement of the exchange offer. McMoRan intends to repay the remaining $0.3 million of the existing notes, which will ...

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