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Article: PXP Announces Pricing of $365 Million of Senior Notes.
- Article from:
- PR Newswire
- Article date:
- March 4, 2009
CopyrightCOPYRIGHT 2009 PR Newswire Association LLC. This material is published under license from the publisher through the Gale Group, Farmington Hills, Michigan. All inquiries regarding rights should be directed to the Gale Group. (Hide copyright information)
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HOUSTON, March 3 /PRNewswire-FirstCall/ -- Plains Exploration & Production Company today announced that it has sold $365 million of 10% Senior Notes that will mature March 1, 2016. The notes were sold to the public at 92.373% of the face value to yield 11.625% to maturity. Net proceeds will be used for future capital expenditures and for general corporate purposes.
Interest is payable March 1 and September 1 of each year. The first interest payment will be made on September 1, 2009, and will consist of interest from closing to that date. The offering is expected to close on March 6, 2009.
J.P. Morgan Securities Inc., Greenwich Capital Markets, Inc., ...