Halcon Resources Prices $700 Million of Senior Secured Notes
April 21 2015 - 4:35PM
Halcón Resources Corporation (NYSE: HK) ("Halcón" or the "Company")
today announced that it has priced $700 million in aggregate
principal amount of senior secured notes due 2020 (the "Notes") in
a private offering. The Notes will bear interest at a rate of
8.625% per annum and will be issued at par. The Notes
offering was increased from the previously announced $500 million
aggregate principal amount. The Notes will be secured by
second-priority liens on substantially all of Halcón's and its
subsidiary guarantors' assets that secure the Company's senior
secured revolving credit facility.
Halcón intends to use the net proceeds from the
offering to repay the outstanding borrowings under its senior
secured revolving credit facility and for general corporate
purposes.
The securities were offered to qualified
institutional buyers pursuant to Rule 144A and to certain persons
in offshore transactions pursuant to Regulation S, each under the
Securities Act of 1933, as amended (the "Securities Act").
The Company expects to close the offering on or about May 1,
2015.
The securities offered by Halcón in the private
placement have not been registered under the Securities Act, or any
state securities laws and, unless so registered, may not be offered
or sold in the United States except pursuant to an applicable
exemption from the registration requirements of the Securities Act
and applicable state securities laws. This press release
shall not constitute an offer to sell or the solicitation of an
offer to buy the securities.
Forward-Looking Statements
This release contains forward-looking statements
within the meaning of Section 27A of the Securities Act and Section
21E of the Securities and Exchange Act of 1934, as amended.
Forward-looking statements are based on current beliefs
and expectations and involve certain assumptions or
estimates that involve various risks and uncertainties,
such as financial market conditions, changes in commodities prices
and the other risks discussed in detail in the Company's Annual
Report on Form 10-K for the year ended December 31, 2014 and other
subsequent filings with the Securities and Exchange
Commission. Readers should not place undue reliance on any
such forward-looking statements, which are made only as of the date
hereof. Halcón has no duty, and assumes no obligation,
to update forward-looking statements as a result of new
information, future events or changes in the Company's
expectations.
About Halcón
Resources
Halcón Resources Corporation is an independent
energy company engaged in the acquisition, production, exploration
and development of onshore oil and natural gas properties in the
United States.
CONTACT: Scott M. Zuehlke
VP, Investor Relations
Halcon Resources
(832) 538-0314
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