Issuer: | Denbury Resources Inc. |
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Security Description: | Senior Subordinated Notes |
|
Distribution: | SEC Registered |
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Aggregate Principal Amount: | $1,000,000,000 |
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Gross Proceeds: | $1,000,000,000 |
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Net Proceeds (Before Expenses): | $980,000,000 |
|
Coupon: | 8.250% |
|
Maturity: | February 15, 2020 |
|
Offering Price: | 100.0% of face amount, plus accrued
interest from February 10, 2010 |
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Yield to Maturity: | 8.250% |
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Spread to Benchmark Treasury: | +457 bps |
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Benchmark Treasury: | UST 3.375% due 11/15/2019 |
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Interest Payment Dates: | February 15 and August 15, commencing
August 15, 2010 |
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Optional Redemption: | Make-whole call at T+50 until February 15,
2015 |
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On or after February 15, 2015: 104.125% |
||
On or after February 15, 2016: 102.750% |
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On or after February 15, 2017: 101.375% |
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On or after February 15, 2018 and
thereafter: 100% |
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Equity Clawback: | Prior to February 15, 2013, up to 35% may
be redeemed at 108.250% |
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Change of Control: | Put @ 101% of principal plus accrued
interest |
Trade Date: | February 3, 2010 |
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Settlement: | T+5; February 10, 2010 |
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CUSIP: | 24823UAG3 |
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ISIN: | US24823UAG31 |
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Ranking: | Senior subordinated unsecured obligations
of Issuer |
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Ratings: | B1/BB |
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Denominations: | 2,000x1,000 |
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Book-Running Managers: | J.P. Morgan Securities Inc. |
|
Banc of America Securities LLC |
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RBC Capital Markets Corporation |
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UBS Securities LLC |
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Wells Fargo Securities, LLC |
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Co-Managers: | BNP Paribas Securities Corp. |
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Credit Suisse Securities (USA) LLC |
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Scotia Capital Inc. |
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Calyon Securities (USA) Inc. |
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BBVA Compass Bank |
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Capital One Southcoast, Inc. |
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Comerica Securities, Inc. |
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Suntrust Robinson Humphrey, Inc. |
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ING Financial Markets LLC |