By Paul A. Harris
St. Louis, April 1 - Mission Resources Corp. sold $130 million of seven-year senior notes (Caa2/CCC) Thursday at par to yield 9 7/8%, according to an informed source.
Price talk was in the area of 9¼%.
Guggenheim Capital Markets LLC ran the books on the Rule 144A issue.
Proceeds will be used to repay debt.
The issuer is a Houston-based independent oil and gas exploration and production company.
Issuer: Mission Resources Corp.
| Amount: | $130 million
|
| Maturity: | April 1, 2011
|
| Security description: | Senior notes
|
| Bookrunner: | Guggenheim Capital Markets LLC
|
| Coupon: | 9 7/8%
|
| Price: | Par
|
| Yield: | 9 7/8%
|
| Call features: | Callable after April 1, 2008 at 104.936, 102.469, par on or after April 1, 2010
|
| Trade date: | April 1
|
| Settlement date: | April 8
|
| Ratings: | Moody's: Caa2
|
| Standard & Poor's: CCC
|
| Price talk: | 9¼% area
|
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