Stone Energy Corp (SGY) said it has priced an offering of $275 million aggregate principal amount of Senior Notes due 2017. The Senior Notes will bear interest at a rate of 8.625% per annum and will be issued at a price equal to 98.713% of the principal amount thereof, resulting in a yield to maturity of 8.875%.
Stone intends to use the net proceeds from the offering to fund its pending tender offer and consent solicitation for its existing 8 1/4% Senior Subordinated Notes due 2011 and for general corporate purposes. Stone expects to close the sale of the Senior Notes on January 26, 2010.
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June 05, 2026 16:18 ET A busy week for economic news flow saw a slew of reports being released that reflected the trends in the U.S. labor market. In Europe, economic growth and inflation data gained attention as the European Central Bank and Bank of England head for policy session later in the month. In Asia, the monetary policy session of the Indian central bank was in focus as the country, a major oil importer, reels under the pressures of a weaker rupee and rising inflation.