EXCO Resources Inc (EXCE)

[Enterprising Investor]

EXCO Resources, Inc. Announces Final Results and Expiration of its Tender Offer and Consent Solicitation (8/24/16)

DALLAS--(BUSINESS WIRE)--EXCO Resources, Inc. (NYSE:XCO) (“EXCO”) today announced the final results and expiration of the previously announced cash tender offer (the “Tender Offer”) for EXCO’s outstanding 7.500% Senior Notes due 2018 (the “2018 Notes”) and EXCO’s outstanding 8.500% Senior Notes due 2022 (the “2022 Notes” and together with the 2018 Notes, the “Notes”) and the consent solicitation (the “Consent Solicitation”) to amend certain terms of the indenture governing the 2022 Notes (the “2022 Notes Indenture”).

The following table sets forth the original outstanding principal amount of Notes included in the Tender Offer, the principal amount of Notes tendered and not withdrawn as of 11:59 p.m., New York City time, on August 23, 2016 (the “Expiration Time”) and the principal amount accepted for purchase. The aggregate principal amount of Notes accepted for purchase has not changed since the early tender and consent deadline of August 9, 2016.

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All Notes validly tendered and not validly withdrawn pursuant to the Tender Offer at or prior to the early tender and consent payment deadline of 5:00 p.m., New York City time, on August 9, 2016 (the “Early Tender/Consent Only Deadline”) were subject to proration and settled by EXCO on August 12, 2016. As a result of the Tender Offer being oversubscribed at the Early Tender/Consent Only Deadline, no Notes tendered after the Early Tender/Consent Only Deadline were accepted for purchase. Notes tendered and not accepted for purchase will be promptly returned or credited to the applicable holders' account.

As previously announced on August 10, 2016, following the receipt of the requisite consents to the proposed amendments, EXCO entered into a supplemental indenture effecting the proposed amendments with respect to the indenture governing the 2022 Notes, which became operative on August 12, 2016. The new supplemental indenture amends the definition of “Credit Facilities” in the indenture to include debt securities as a permitted form of additional secured indebtedness, in addition to the term loans and other credit facilities currently permitted.

Credit Suisse Securities (USA) LLC acted as Dealer Manager for the Tender Offer and Solicitation Agent for the Consent Solicitation, and D.F. King & Co., Inc. acted as the Information Agent, Tabulation Agent and Tender Agent for the Tender Offer and the Consent Solicitation.

This announcement does not constitute an offer to purchase Notes or a solicitation of an offer to sell Notes and shall not be deemed to be an offer to purchase or a solicitation of an offer to sell with respect to any securities of EXCO or its subsidiaries.

About EXCO

EXCO Resources, Inc. is an oil and natural gas exploration, exploitation, acquisition, development and production company headquartered in Dallas, Texas with principal operations in Texas, North Louisiana and the Appalachia region.

Additional information about EXCO Resources, Inc. may be obtained by contacting Tyler Farquharson, EXCO’s Vice President of Strategic Planning, at EXCO’s headquarters, 12377 Merit Drive, Suite 1700, Dallas, TX 75251, telephone number [phone], or by visiting EXCO’s website at www.excoresources.com. EXCO’s Securities and Exchange Commission (“SEC”) filings and press releases can be found under the Investor Relations tab.

http://www.businesswire.com/news/home/20160824005331/en/EXCO-Resources-Announces-Final-Results-Expiration-Tender