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 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.