McMoRan Exploration to bring $400 million notes

New York, Nov. 1 - McMoRan Exploration Co. said it plans to offer $400 million of senior notes.

JPMorgan and Merrill Lynch & Co. are joint bookrunners for the off-the-shelf deal with BNP Paribas as co-manager.

Proceeds will be used to repay borrowings under a bridge facility used to help finance the acquisition of the Gulf of Mexico shelf oil and gas properties of Newfield Exploration Co.

No further details were immediately available.

McMoRan is a New Orleans-based oil and natural gas exploration, development and production company.

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