Exco Resources completes notes offering worth $750 million, nets $724.4 million

Exco Resources completes $750M notes offering

DALLAS — Energy company Exco Resources Inc. said Wednesday it has completed its offering of $750 million in senior notes due in 2018.

The company received proceeds of $724.4 million after taking out fees and expenses. Exco said the notes had an aggregate principal amount of 7.5 percent.

The company announced the offering last week and said it would use some of the proceeds to buy back $444.7 million in senior notes that are due in 2011.

The book-running managers for the offering were JPMorgan Securities, Banc of America Securities, BNP Paribas Securities, RBC Capital Markets, and Wells Fargo Securities.

Shares of Exco fell 25 cents to $13.95 in midday trading Wednesday.