Enduro Royalty Trust Announces Public Offering of 11.2M Trust Units by Enduro Resource Partners
Enduro Royalty Trust (NYSE: NDRO) announced today that Enduro Resource Partners LLC (“Enduro”) intends to offer 11,200,000 trust units in an underwritten public offering. Enduro will also grant the underwriters a 30-day option to purchase up to an additional 1,680,000 trust units. The Trust will not sell any trust units in the offering and will not receive any proceeds from the offering. Enduro intends to use the net proceeds from the sale of its trust units to pay down a portion of the outstanding borrowings under its senior secured credit facility.
Barclays, Citigroup, Goldman, Sachs & Co., J.P. Morgan, RBC Capital Markets and Wells Fargo Securities will serve as the joint book-running managers of this offering.
The trust units will be sold pursuant to a prospectus supplement and accompanying prospectus as part of an effective shelf registration statement filed by the Trust with the Securities and Exchange Commission (the “SEC”). Copies of the registration statement can be accessed through the SEC's website at www.sec.gov. Copies of the prospectus supplement and accompanying prospectus for this offering may be obtained from the offices of:
(c) 2013 Benzinga.com. Benzinga does not provide investment advice. All rights reserved.