Newfield makes $650M offering, portion to offset TXCO assets acquisition

摘要

Newfield has commenced an offering of $650 million of Senior Subordinated Notes due 2020. The company intends to use the net proceeds from the offering to fund its pending tender offer and consent solicitation for its existing 7 5/8% Senior Notes due 2011, to fund its pending acquisition of certain of TXCO Resources Inc.'s assets in the Maverick Basin, to repay outstanding borrowings under its credit agreement and for general corporate purposes, including its 2010 capital program.