Tuesday, Denbury Resources Inc. (DNR) announced a public offering of $1 billion of Senior Subordinated Notes due 2020. Denbury expects to complete the offering by the early part of next week. The net proceeds from the offering will be placed in escrow pending the closing of the previously announced merger of Encore Acquisition Co. with and into Denbury.
Upon the closing of the merger, $400 million of the escrowed proceeds will be released to us to finance a portion of the merger consideration. In addition, on or about the date of the closing of the notes offering, we intend to offer to purchase three series of Encore's outstanding senior subordinated notes. The remaining $600 million of escrowed proceeds will be used to fund repurchases pursuant to these offers or any change of control offers to be made upon consummation of the merger.
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June 12, 2026 17:14 ET Major central bank action was the focus this week in economic news. The European Central Bank became the first major central bank to move in response to the rising inflationary pressures in the backdrop of the conflict in the Middle East. In North America, the U.S. inflation and trade data as well as Canada’s central bank decision gained attention. The Chinese trade data was the main news in Asia.