Endeavor Energy to pay down revolver with proceeds from add-on notes

By Sarah Lizee

Olympia, Wash., Nov. 12 – Endeavor Energy Resources, LP plans to repay debt under its revolver using proceeds from new add-on notes.

Endeavor Energy and EER Finance, Inc. plan to price a $500 million add-on to their 5¾% senior notes due Jan. 30, 2028 (existing ratings B1/BB-) in a quick-to-market Tuesday trade following a mid-morning conference call with investors, according to market sources.

Proceeds from the notes will also be used for general corporate purposes.

Endeavor is a Midland, Tex.-based oil and gas exploration and production company.

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