XTO Energy Prices Senior Notes Due 2012

April 17, 2002 by Jeff Shepard

XTO Energy Inc. (Fort Worth, TX) announced that it has priced an offering of $350.0 million (increased from $300.0 million) of senior notes due 2012, which will bear a coupon of seven and one-half percent. The net proceeds from the offering will total approximately $342.0 million and are expected to be used to finance recently announced strategic property transactions, redeem the company’s nine-and-one-fourth-percent senior subordinated notes, and repay part of the company’s bank indebtedness. The notes were sold to the public at par, and the offering is expected to close on April 23, 2002.