DENVER, Sept. 21, 2011
/PRNewswire/ -- Bill Barrett Corporation (NYSE: BBG) today announced that it
has priced its $400 million aggregate principal amount of 7 5/8% Senior Notes
due 2019. The notes were sold to the public at par, and the offering size was increased
from $300 million (as previously announced) to $400 million. The notes
will be unsecured obligations of the Company and will be effectively
subordinated to the Company's existing and future secured indebtedness to the
extent of the value of the assets securing that indebtedness. Initially,
all of the Company's subsidiaries will guarantee the notes.
Interest on the notes is
payable April 1 and October 1 of each year. The first interest payment will be
payable on April 1, 2012, and will consist of interest from September 27, 2011
to that date. The notes will mature on October 1, 2019. The offering is
expected to close on September 27, 2011, subject to customary closing
conditions. The Company intends to use the net proceeds from the offering
to repay borrowings under its revolving credit facility and for general
BofA Merrill Lynch, J.P. Morgan
Securities LLC, Deutsche Bank Securities Inc. and Wells Fargo Securities, LLC
were the joint book-running managers for the offering. This offering is being
made only by means of a prospectus and related prospectus supplement.
Electronic copies of the
prospectus and, when available, the prospectus supplement may be obtained from:
BofA Merrill Lynch at 4 World Financial Center, 7th
Floor, New York, NY 10080, attention: Prospectus Department, via telephone at
1-800-294-1322 or via email at firstname.lastname@example.org; J.P. Morgan Securities LLC at 383
Madison Avenue, 3rd Floor, New York, NY 10179, attention Syndicate Desk, or via
telephone at 1-800-261-5767; Deutsche Bank Securities Inc. at 100 Plaza One,
Floor 2, Jersey City, NJ 07311-3901, Attention: Prospectus Department, via
telephone at 1-800-503-4611 or via email at email@example.com; and from Wells Fargo Securities, LLC at 1525 West W.T. Harris Blvd.,
MAC D1109-010, Charlotte, NC 28262, Attention: Syndicate Operations, or via
telephone at 1-800-326-5897. The prospectus and, when available, the prospectus
supplement may also be obtained from the SEC's website at http://www.sec.gov.
This press release shall
not constitute an offer to sell or the solicitation of an offer to buy nor shall there be any sale of these securities in any state in
which such offer, solicitation or sale would be unlawful prior to registration
or qualification under the securities laws of any state.
This press release includes
"forward-looking statements" within the meaning of the federal
securities laws. All statements, other than statements of historical
facts, included in this press release that address activities, events or
developments that the Company expects, believes or anticipates will or may
occur in the future are forward-looking statements. These statements
include the Company's plan to complete a public offering of senior notes in
aggregate principal amount of $400 million. Such statements are subject
to a number of assumptions, risks and uncertainties, many of which are beyond
the control of the Company, including market conditions, operational developments
with respect to the Company, and other factors described in the Company's
reports filed with the SEC.
About Bill Barrett
Bill Barrett Corporation
(NYSE: BBG), headquartered in Denver, Colorado, explores for and develops
natural gas and oil in the Rocky Mountain region of the United States.
Additional information about the Company may be found on its website www.billbarrettcorp.com.