Energy XXI (Bermuda) (EXXI) Reports Q4 Loss of $0.12; Announces Debt Exchange Offer, Consent Solicitation
Energy XXI (Bermuda) Limited (Nasdaq: EXXI) reports Q4 loss of $0.12, versus the analyst estimate of ($0.03). Revenue for the quarter was $101.1 million, versus the consensus of $126.90 million.
Separately, the company announced it has commenced an exchange offer and consent solicitation in respect of its 10% Senior Notes due 2013.
The Company has commenced an offer to exchange up to $360 million principal amount outstanding Senior Notes properly tendered (and not validly withdrawn) and accepted by the Company for its newly issued 16% Second Lien Junior Secured Notes due 2014, subject to proration and reduction to $311 million principal amount of Senior Notes, depending on the aggregate principal amount of Second Lien Notes sold in a concurrent private placement.
Separately, the company announced it has commenced an exchange offer and consent solicitation in respect of its 10% Senior Notes due 2013.
The Company has commenced an offer to exchange up to $360 million principal amount outstanding Senior Notes properly tendered (and not validly withdrawn) and accepted by the Company for its newly issued 16% Second Lien Junior Secured Notes due 2014, subject to proration and reduction to $311 million principal amount of Senior Notes, depending on the aggregate principal amount of Second Lien Notes sold in a concurrent private placement.
You May Also Be Interested In
- UPDATE: Bristow Group (BRS) Reports Better-Than-Expected Q4 Results; Offers FY13 Outlook
- Pandora Media (P) Tops Q1 EPS by 8c; Offers Promising Q2, FY13 Outlook
- AFC Enterprises, Inc. (AFCE) Tops Q1 EPS by 4c; Raises FY12 Comps Outlook
Create E-mail Alert Related Categories
Corporate News, EarningsSign up for StreetInsider Free!
Receive full access to all new and archived articles, unlimited portfolio tracking, e-mail alerts, custom newswires and RSS feeds - and more!
