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Carrizo Oil & Gas offers senior convertible notes

By Associated Press
May 21, 2008 | Comments (0)

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Independent crude oil and natural gas producer Carrizo Oil & Gas Inc. said Wednesday it is publicly offering about $275 million in convertible senior notes due 2028.

Carrizo intends to use the estimated $268.8 million of net proceeds to repay debt under its second lien credit facility and to fund, in part, its 2008 capital expenditures.

Pending this partial funding of its capital expenditure program, Carrizo said it expects to use the remaining proceeds to repay borrowings outstanding under its senior revolving credit facility.

Credit Suisse Securities (USA) LLC and RBC Capital Markets Corp. are joint book-running managers; JP Morgan Securities Inc. and UBS Securities LLC are co-managers.

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