Natural gas and oil producer Devon Energy has raised $2.25 billion through a note sale, The Wall Street Journal reports. The company sold $500 million of five-year notes with a coupon of 2.4%, $500 million of 10-year notes with a coupon of 4% and $1.25 billion of 30-year notes with a coupon of 5.6%.

The proceeds are expected to be used to redeem $1.75 billion in senior notes due in September 2011. Goldman Sachs, Morgan Stanley, UBS, Barclays Capital, Credit Suisse, RBC Capital and Royal Bank of Scotland managed the sale.

Click here for the story from The Wall Street Journal.