BRIEF-Karoon Energy Says Proposed Offering Of Second-Priority Senior Secured Notes

Reuters04-23

April 23 (Reuters) - Karoon Energy Ltd :

* PROPOSED OFFERING OF SECOND-PRIORITY SENIOR SECURED NOTES

* KAROON USA FINANCE PROPOSES TO OFFER AND SELL AGGREGATE PRINCIPAL AMOUNT OF US$400 MILLION OF SECOND-PRIORITY SENIOR SECURED NOTES

* IF OFFER SUCCESSFUL, INTENDS TO APPLY NET PROCEEDS TOWARDS REPAYMENT OF DRAWN AMOUNTS UNDER ITS RESERVE-BASED LENDING FACILITY, OTHERS

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