updated 11/12/2010 2:03:04 PM ET 2010-11-12T19:03:04

Independent oil and natural gas company Stone Energy Corp. said Friday it will offer $100 million in 8.625 percent senior notes due in 2017.

The Lafayette, La., company plans to use proceeds to repay bank credit line borrowings and to make payments toward its purchase of additional lease acreage in Appalachia.

Merrill Lynch, Pierce, Fenner & Smith Inc. is acting as the offering's sole book-running manager.

The company's stock fell 22 cents to $19.59 in Friday afternoon trading.

Copyright 2010 The Associated Press. All rights reserved. This material may not be published, broadcast, rewritten or redistributed.

Discuss:

Discussion comments

,

Most active discussions

  1. votes comments
  2. votes comments
  3. votes comments
  4. votes comments

Data: Latest rates in the US

Home equity rates View rates in your area
Home equity type Today +/- Chart
$30K HELOC FICO 5.05%
$30K home equity loan FICO 5.67%
$75K home equity loan FICO 4.85%
Credit card rates View more rates
Card type Today +/- Last Week
Low Interest Cards 13.42%
13.42%
Cash Back Cards 17.94%
17.94%
Rewards Cards 17.15%
17.15%
Source: Bankrate.com