Belco Oil & Gas Corp. Announces Sale of $150 Million of Senior Subordinated Notes.NEW YORK--(BUSINESS WIRE)--Sept. 17, 1997--Belco Oil & Gas Corp. (NYSE NYSE See: New York Stock Exchange :BOG) today announced that the Company has agreed to sell an aggregate of $150 million of its 8 7/8% Senior Subordinated Notes due 2007. This represents an increase of $25 million over the previously announced amount of the offering. The Company currently anticipates that the sale will be completed on September 23, 1997, and that the proceeds of the sale will be used to repay amounts outstanding under the Company's current bank credit facility and for other general corporate purposes. The offering will be made by means of an offering memorandum Offering Memorandum A legal document stating the objectives, risks, and terms of investment involved with a private placement. Notes: The private placement of hedge funds necessitates the issue of memorandums. to qualified institutional buyers, and the securities will have certain registration rights associated therewith there·with adv. 1. With that, this, or it. 2. In addition to that. 3. Archaic Immediately thereafter. Adv. 1. . The securities will not have been registered under the Securities Act of 1933 and may not be offered or sold in the United States absent registration or an applicable exemption from registration requirements. This press release shall not constitute an offer to sell or the solicitation of an offer to buy the senior subordinated notes. Belco Oil & Gas Corp., headquartered in New York City New York City: see New York, city. New York City City (pop., 2000: 8,008,278), southeastern New York, at the mouth of the Hudson River. The largest city in the U.S. , is an independent energy company engaged in the exploration, development and production of natural gas and oil. CONTACT: Belco Oil & Gas Corp. Myra E. Turoff, Investor Relations Investor relations The process by which the corporation communicates with its investors. - (212) 508-9539 www.belcooil-gas.com |
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