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PLAINS RESOURCES PRIVATELY PLACES $75 MILLION OF SENIOR SUBORDINATED DEBT

Plains Resources Inc. (AMEX: PLX) privately placed $75 million principal of senior subordinated notes due 2006. The debt, designated Series E, bears a 10.25% stated coupon rate, but will be issued at approximately 101% of par, for a yield-to-worst rate of 9.97%. The stated coupon rate of interest and maturity date are the same as those for the Houston independent ...

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