Enduro Royalty Trust Announces Pricing of Public Offering of Trust Units by Enduro Resource Partners LLC
September 26 2013 - 6:03PM
Business Wire
Enduro Royalty Trust (NYSE: NDRO) (the “Trust”) announced today
the pricing of a public offering by Enduro Resource Partners LLC
(“Enduro”) of 11,200,000 trust units at a price of $13.85 per unit.
Enduro also granted the underwriters a 30-day option to purchase up
to an additional 1,680,000 trust units at the public offering
price, less the underwriting discount. The offering is expected to
close on October 2, 2013, subject to customary closing conditions.
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 and
Wells Fargo Securities are serving as the joint book-running
managers of this offering. RBC Capital Markets and Ladenburg
Thalmann & Co. Inc. are serving as co-managers.
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:
Barclaysc/o Broadridge Financial Solutions1155 Long Island
AvenueEdgewood, New York 11717Phone: (888)
603-5847barclaysprospectus@broadridge.com
Citigroupc/o Broadridge Financial Solutions1155 Long Island
AvenueEdgewood, New York 11717Phone: (800)
831-9146batprospectusdept@citi.com
Goldman, Sachs & Co.Attn: Prospectus Department200 West
StreetNew York, New York 10282Phone: (866)
471-2526prospectus-ny@ny.email.gs.com
J.P. MorganAttn: Broadridge Financial Solutions1155 Long Island
AvenueEdgewood, New York 11717Phone: (866) 803-9204
Wells Fargo SecuritiesAttn: Equity Syndicate Department375 Park
AvenueNew York, New York 10152Phone: (800)
316-5897cmclientsupport@wellsfargo.com
This press release does not constitute an offer to sell or a
solicitation of an offer to buy the securities described above, nor
shall there be any sale of these securities in any state or
jurisdiction in which such offer, solicitation, or sale would be
unlawful prior to registration or qualification under the
securities laws of such state or jurisdiction.
About Enduro Royalty
Trust
Enduro Royalty Trust is a Delaware statutory trust formed by
Enduro to own a net profits interest representing the right to
receive 80% of the net profits from the sale of oil and natural gas
production from certain of Enduro’s properties in the states of
Texas, Louisiana and New Mexico.
About Enduro Resource Partners
LLC
Enduro Resource Partners LLC is a privately held Delaware
limited liability company formed on March 3, 2010 and engaged in
the production and development of oil and natural gas from
properties located in Texas, Louisiana, New Mexico, Wyoming and
North Dakota.
Cautionary Statement Regarding
Forward-Looking Information
This press release includes statements, including those related
to the offering of trust units, that are “forward-looking
statements” within the meaning of Section 21E of the Securities
Exchange Act of 1934, as amended. All statements contained in this
press release, other than statements of historical fact, are
“forward-looking statements” for purposes of these provisions. No
assurances can be given that the offering discussed herein will be
completed within a particular time frame, if at all. Neither Enduro
nor the trustee intends, and neither assumes any obligation, to
update any of the statements included in this press release. An
investment in trust units is subject to the risks described in the
Trust’s filings with the SEC, including the risks described in the
Trust’s Annual Report on Form 10-K for the year ended December 31,
2012, filed with the SEC on March 18, 2013.
Enduro Royalty TrustThe Bank of New York Mellon Trust Company,
N.A., as TrusteeMary Jo Davis, 713-483-6792
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