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Encore Acquisition to repay bank debt with bond sale proceeds
By Sara Rosenberg
New York, March 29 - Encore Acquisition Co. plans to repay debt under its credit facility with a portion of the proceeds from a proposed $150 million senior subordinated notes offering.
Remaining proceeds will be used to fund the Cortez Oil & Gas Inc. acquisition, announced on March 2, according to a company news release.
Encore Acquisition is a Fort Worth, Texas, energy company.
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