<div id="subtitle">Denbury Resources to sell $1 billion in bonds to help finance Encore acquisition</div><div><p>Oil and gas developer Denbury Resources Inc. said Tuesday it is offering $1 billion in new 10-year bonds to help pay for its planned takeover of Encore Acquisition Co., which buys and develops oil and natural gas reserves from onshore fields in the United States.</p><p>Denbury said it expects to complete the offering by early next week, setting aside $400 million of the proceeds in escrow to finance a portion of its $2.64 billion buyout. The remaining $600 million will be used to buy back a portion of Encore's outstanding bonds.</p><p>Denbury is taking on more than $1 billion in Encore borrowings as part of a cash and stock deal announced in November. The acquisition will make it one of the largest independent oil exploration and production companies in North America.</p><p>Its stock was up 63 cents, or 4.4 percent, to $15.09 in morning trading.</p><img src="http://admatch-syndication.mochila.com/images/ad.gif?aid=68315722&bid=informcom" /></div><div id="copyright"><div>

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