Stone Energy Corp. (SGY) announced its plan for a public offering of $250 million aggregate principal amount of senior notes due 2017. The notes will be fully and unconditionally guaranteed by Stone Energy Offshore, L.L.C., a wholly-owned subsidiary of Stone. 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.
Banc of America Securities LLC and J.P. Morgan Securities Inc. are acting as joint book-running managers for the Senior Notes offering.
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