NATCHEZ, Miss., Sept. 12, 2016 /PRNewswire/ -- Callon
Petroleum Company (NYSE: CPE) ("Callon" or the "Company") today
announced, subject to market and other conditions, it intends to
offer $350 million aggregate
principal amount of senior unsecured notes due 2024 in a private
placement to eligible purchasers under Rule 144A and Regulation S
of the Securities Act of 1933, as amended (the "Securities
Act").
The Company intends to use the net proceeds of the offering to
repay amounts borrowed under its second lien term loan and for
general corporate purposes, including for a potential increase in
drilling activity.
The securities to be offered have not been registered under the
Securities Act or any state securities laws and unless so
registered, the securities may not be offered or sold in
the United States except pursuant
to an exemption from, or in a transaction not subject to, the
registration requirements of the Securities Act and applicable
state securities laws. The notes are expected to be eligible for
trading by qualified institutional buyers in the United States under Rule 144A under the
Securities Act and outside the United
States pursuant to Regulation S under the Securities
Act.
This press release is being issued pursuant to Rule 135c under
the Securities Act, and is neither an offer to sell nor a
solicitation of an offer to buy the notes or any other securities
and shall not constitute an offer to sell or a solicitation of an
offer to buy, or a sale of, the notes or any other securities in
any jurisdiction in which such offer, solicitation or sale is
unlawful.
About Callon Petroleum Company
Callon is an independent energy company focused on the
acquisition, development, exploration, and operation of oil and gas
properties in the Permian Basin in West
Texas.
Cautionary Statement Regarding Forward Looking
Statements
This news release contains "forward-looking statements" within
the meaning of the federal securities laws. All statements, other
than historical facts, that address activities that the Company
assumes, plans, expects, believes, intends or anticipates (and
other similar expressions) will, should or may occur in the future
are forward-looking statements. The forward-looking statements are
based on management's current beliefs, based on currently available
information, as to the outcome and timing of future events. These
forward-looking statements involve certain risks and uncertainties
that could cause the results to differ materially from those
expected by the Company's management. Information concerning these
risks and other factors can be found in the Company's filings with
the Securities and Exchange Commission, including its Annual
Reports on Form 10-K and Quarterly Reports on Form 10-Q, available
on the Company's website or the SEC's website at www.sec.gov.
For further information contact:
Joe Gatto
President, Chief Financial Officer and Treasurer
1-800-451-1294
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SOURCE Callon Petroleum Company