Dallas-based E&P company Exco Resources Inc. (NYSE: XCO) intends to publicly offer approximately $750 million aggregate principal amount of senior notes due 2018.
Exco intends to use a portion of the net proceeds to redeem all $444.7 million in aggregate principal amount of its outstanding 7¼% senior notes due 2011. The remaining proceeds will be used to pay down a portion of the outstanding balance under Exco's credit agreement.
J.P. Morgan Securities LLC, Banc of America Securities LLC, BNP Paribas Securities Corp., RBC Capital Markets Corp. and Wells Fargo Securities LLC are joint book-running managers.
Exco Resources has oil and gas operations in East Texas, North Louisiana, Appalachia and West Texas.
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