Clayton Williams plans $300M senior notes offering

Independent exploration and production company Clayton Williams Energy Inc. (NASDAQ: CWE) has announced plans for a $300 million senior notes offering due 2019.

Proceeds will be used to fund the company’s tender offer of $225 million of 7 ¾% notes due 2013, announced March 2.

The tender offer of up to $1,019.38 for each $1,000 of principal amount includes a $30.00 early participation payment for notes tendered on or prior to March 15, 2011.

A March 7 research note by Global Hunter Securities puts Clayton Williams Energy’s long-term debt at year-end near $385 million.

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