Tom Brown $225 million 10-year notes talked at 7¼%-7½%, pricing late week

By Paul A. Harris

St. Louis, Sept. 10 - Tom Brown, Inc.'s $225 million offering of 10-year non-call-five senior subordinated notes (Ba3/BB-) is talked at 7¼% to 7½%, according to a syndicate source who added that the deal is expected to price late this week.

The notes will be issued as units jointly with Tom Brown Resources Funding Corp.

Goldman Sachs & Co. is bookrunner on the off-the-shelf deal. JP Morgan and Merrill Lynch & Co. are joint leads. BNP Paribas, Citigroup, Scotia Capital and Wachovia Securities are co-managers.

Proceeds will be used to repay debt incurred in the acquisition of Matador Petroleum Corp. and to repay other debt

The prospective issuer is a Denver-based oil and gas exploration and production company.

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