The company intends to use the net proceeds from the offering to redeem its 8 3/8-percent Senior Subordinated Notes due 2012 ($250 million aggregate principal amount outstanding plus redemption premium of approximately $20 million). In addition, the proceeds would go toward general corporate purposes, including a portion of Newfield's 2006 capital program.
Newfield also announced that it had notified those holding its 8 3/8-percent Senior Subordinated Notes due 2012 that it would redeem the notes on May 3.
Most Popular Articles
From the Career Center
Jobs that may interest you