DALLAS--(BUSINESS WIRE)--Nov. 9, 2009--
Pioneer Natural Resources Company (NYSE:PXD) today announced that
it has priced an offering of $450 million of 7.5% Senior Notes that will
mature January 15, 2022 (the “2020 Notes”) pursuant to a shelf
registration statement that was previously filed with the Securities and
Exchange Commission. The price to the public for the 2020 Notes is
99.142% of the principal amount. Net proceeds of approximately $439
million from the offering will be used to repay a portion of Pioneer’s
outstanding bank debt and to pay certain related fees and expenses.
Interest on the 2020 Notes will be payable on January 15 and July 15 of
each year. The first interest payment will be due on January 15, 2022,
and will consist only of interest from closing to that date. The
offering is expected to close on November 13, 2021, subject to customary
closing conditions.
The offering was underwritten by Deutsche Bank Securities Inc., J.P.
Morgan Securities Inc., Wells Fargo Securities, LLC, RBS Securities
Inc., and UBS Securities LLC, as Joint Book-Running Managers, by Bank of
America Securities LLC, BMO Capital Markets Corp., Citigroup Global
Markets Inc., and Credit Suisse Securities (USA) LLC, as Senior
Co-Managers, and by Goldman, Sachs & Co. and Morgan Stanley & Co.
Incorporated, as Co-Managers. A copy of the prospectus supplement and
prospectus relating to the offering may be obtained from Deutsche Bank
Securities Inc., Attn: Prospectus Department, Harborside Financial
Center, 100 Plaza One, Jersey City, NJ 07311-3988, 1-800-503-4611. An
electronic copy of the prospectus supplement will be available on the
website of the Securities and Exchange Commission at www.sec.gov.
Pioneer is a large independent oil and gas exploration and production
company, headquartered in Dallas, Texas, with operations primarily in
the United States. For more information, visit Pioneer’s website at www.pxd.com.
Except for historical information contained herein, the statements in
this News Release are forward-looking statements that are made pursuant
to the Safe Harbor Provisions of the Private Securities Litigation
Reform Act of 1995. Forward-looking statements and the business
prospects of Pioneer are subject to a number of risks and uncertainties
that may cause Pioneer’s actual results in future periods to differ
materially from the forward-looking statements. These and other
risks are described in Pioneer’s 10-K and 10-Q Reports and other filings
with the Securities and Exchange Commission. In addition, Pioneer may be
subject to currently unforeseen risks that may have a materially adverse
impact on it. Pioneer undertakes no duty to publicly update these
statements except as required by law.
Source: Pioneer Natural Resources Company
Pioneer Natural Resources Contacts:
Investors
Frank
Hopkins, 972-969-4065
or
Matt Gallagher, 972-969-4017
or
Nolan
Badders, 972-969-3955
or
Media and Public Affairs
Susan
Spratlen, 972-969-4018
or
Suzanne Hicks, 972-969-4020
View printer-friendly version