Quicksilver to sell $425 mln in bonds

By Associated Press
June 17, 2009 | Comments (0)

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Oil and gas company Quicksilver Resources Inc. said Wednesday that it plans to offer $425 million in senior bonds due in 2016.

The bonds will only be offered if Quicksilver also completes the sale of its interests in Eni US Operating Co. Inc. and Eni Petroleum US LLC, which is expected to occur Friday.

The company plans to use the proceeds of both to pay off existing debts due in 2013.

Quicksilver shares fell a penny to close at $11.66 on Wednesday, and dropped another 19 cents to $11.47 in after-hours trading when the planned debt offering was announced.

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