Flores & Rucks announces pricing of offerings.BATON ROUGE Baton Rouge (băt`ən r  zh) [Fr.,=red stick], city (1990 pop. 219,531), state capital and seat of East Baton Rouge parish, SE La. , La.--(BUSINESS WIRE)--Sept. 20, 1996--Flores & Rucks, Inc. ("FNR FNR False Negative RateFnR Find and Replace FNR Ford Nuclear Reactor FNR Future Net Revenue FNR For No Reason FNR Flexible Numbering Register FNR Fixed Network Reconfiguration FNR Frequency Normalization Response ") announced today it has priced an offering of $160,000,000 of 93/4% Senior Subordinated Notes due October 1, 2006. The size of the offering was increased from the $150,000,000 originally planned. The Company expects to receive net proceeds Net Proceeds The amount received after all costs are deducted from the sale of a piece of property or security. Notes: In the case of an investor selling a security, net proceeds represent the proceeds from the sale minus any trading costs (i.e. commissions). of approximately $154,000,000 from the sale. The managing underwriters for the notes offering were Merrill Lynch & Co., Bear, Stearns & Co. Inc. and Salomon Brothers Inc. FNR expects to close the offering on September 26, 1996. In addition, on September 19, 1996, the Company priced an offering of its common stock by a selling stockholder. The managing underwriters for the common stock offering were Merrill Lynch & Co., Howard, Weil, Labouisse, Friedrichs Inc., and Petrie Parkman & Co. Flores Flores, town, Guatemala Flores (flōrəs), town (1990 est. pop. 2,200), capital of Petén department, N Guatemala. Flores was built on an island in the southern part of Lake Petén Itzá and on the site of the & Rucks, Inc. is an independent energy company engaged in the exploration, development, production, and acquisition of crude oil and natural gas. For further information, please contact Investor Relations Investor relations The process by which the corporation communicates with its investors. at (504) 928-6222 or mail requests to 8440 Jefferson Highway, Suite 420, Baton Rouge, LA 70809. Additional information on FNR is located in the "Corporate News on the Net" section of Business Wire's home page (http:/www.businesswire.com). CONTACT: Flores & Rucks, Inc., Baton Rouge James C. Flores or Robert L. Belk, 504/927-1450 |
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