Filed Pursuant to Rule 433 | ||
March 29, 2007 | ||
Registration Statement | ||
Nos. 333-141637 and 333-141675 |
Issuer: | Denbury Resources Inc. | |||||||
Security Description: | Senior Subordinated Notes Add-on | |||||||
Distribution: | SEC Registered | |||||||
Face: | $150,000,000 | |||||||
Gross Proceeds: | $150,750,000 | |||||||
Net Proceeds to Issuer (before expenses): | $149,242,500 | |||||||
Coupon: | 7.500% | |||||||
Maturity: | December 15, 2015 | |||||||
Offering Price (plus accrued interest from December 15, 2006) | 100.5% +2.25pts of accrued interest | |||||||
Yield to Maturity: | 7.401% | |||||||
Spread to Treasury: | +278bps | |||||||
Benchmark: | UST 4% due 2/15/2015 | |||||||
Ratings: | B1/B+ | |||||||
Interest Pay Dates: | June 15 and December 15 | |||||||
Beginning: | June 15, 2007 | |||||||
Equity Clawback: | Up to 35% at 107.5% | |||||||
Until: | December 15, 2008 | |||||||
Optional redemption: |
||||||||
On or after: | Price: | |||||||
December 15, 2010 | 103.750 | % | ||||||
December 15, 2011 | 102.500 | % | ||||||
December 15, 2012 | 101.250 | % | ||||||
December 15, 2013 and thereafter | 100.000 | % | ||||||
Change of control: | Put @ 101% of principal plus accrued interest | |||||||
Trade Date: | March 29, 2007 | |||||||
Settlement Date: | (T+3) | April 3, 2007 | ||||||
CUSIP: | 24823UAF5 | |||||||
ISIN: | US24823UAF57 | |||||||
Denominations: | 2,000x1,000 | |||||||
Bookrunner: | JPMorgan |