Endeavour International today competed an add-on offering of its 12% first-priority notes due 2018 via sole bookrunner Credit Suisse, according to sources. Proceeds from the deal will be used to repay outstanding 12% subordinated notes due 2014 and to finance a portion of the construction, improvement and other capital costs related to U.S. and U.K oil and natural-gas properties, according to the company. The original $350 million issue priced in February. Houston-based Endeavour is an oil-and-gas exploration-and-production company with operations in the U.K. and U.S. Terms:
| Issuer | Endeavour International | |
| Ratings | CCC+/Caa1 | |
| Amount | $54 million | |
| Issue | add-on first priority notes | |
| Coupon | 12% | |
| Price | 109 | |
| Yield-to-worst | 9.436% | |
| Spread | T+887 | |
| FRN eq. | L+874 | |
| Maturity | March 1, 2018 | |
| Call | nc2.5 | |
| Trade | Oct. 9, 2012 | |
| Settle | Oct. 15, 2012 (T+3) | |
| Joint Bookrunners | CS | |
| Px talk | n/a | |
| Notes | Issue size now $404 million; original $350 million priced in February, at 96. |
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