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Plains Exploration Plans $500 Mln Senior Notes Offering

4/24/2012 12:47 PM ET

Plains Exploration & Production Co. (PXP: Quote) said Tuesday that it plans to offer $500 million of Senior Notes due 2019 in an underwritten public offering.

Net proceeds from the offering are expected to be used to repay amounts outstanding under the company's senior revolving credit facility and for general corporate purposes, including the redemption of all $76.9 million aggregate principal amount of PXP's Senior Notes due 2017 that remain outstanding.

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