Halcón Resources Announces Pricing of $850 Million Offering of Unsecured Notes
February 09 2017 - 4:15PM
Halcón Resources Corporation (NYSE: HK) (“Halcón” or the “Company”)
today announced that it has priced $850 million in aggregate
principal amount of senior unsecured notes due 2025 (the “Notes”)
in a private offering. The Notes will bear interest at a rate
of 6.75% per annum and will be issued at par. The Notes
offering was increased from the previously announced $700 million
aggregate principal amount.
Halcón intends to use the net proceeds from the
offering to repurchase and/or redeem the Company’s $700 million of
currently outstanding 8.625% second lien notes due 2020, with the
remaining net proceeds used to repay borrowings under the Company’s
senior revolving credit facility.
The Notes are fully and unconditionally
guaranteed on a senior unsecured basis, jointly and severally, by
each of the Company’s domestic subsidiaries that guarantee the
Company’s senior secured revolving credit facility. The
securities were offered to persons reasonably believed to be
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
February 16, 2017, subject to customary closing conditions.
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. The statements of intent in this
press release with respect to the tender offer and redemption of
the 2020 notes do not constitute an offer to purchase or redeem
such notes
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.
For more information contact Quentin Hicks,
Senior Vice President of Finance & Investor Relations, at
832-538-0557 or qhicks@halconresources.com.
Forward-Looking Statements
This release may contain forward-looking
statements within the meaning of Section 27A of the Securities Act
of 1933, as amended, and Section 21E of the Securities Exchange Act
of 1934, as amended. Statements that are not strictly
historical statements constitute forward-looking statements
and may often, but not always, be identified by the use
of such words such as "expects", "believes", "intends",
"anticipates", "plans", "estimates", "potential",
"possible", or "probable" or statements that certain
actions, events or results "may", "will", "should", or "could" be
taken, occur or be achieved. Statements regarding our pending
acquisitions and divestitures are forward-looking statements; there
can be no guarantee that these transactions close on the timeframe
described herein or that they close at all. Forward-looking
statements are based on current beliefs and
expectations and involve certain assumptions or
estimates that involve various risks and uncertainties
that could cause actual results to differ materially from
those reflected in the statements. These risks include, but
are not limited to the risks set forth in the Company's Annual
Report on Form 10-K for the fiscal year ended December 31, 2015 and
other filings submitted by the Company to the SEC, copies
of which may be obtained from the SEC's website at
www.sec.gov or through the Company's website
at www.halconresources.com. Readers should not place
undue reliance on any such forward-looking statements, which are
made only as of the date hereof. The Company 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.
Halcon Resources (NYSE:HK)
Historical Stock Chart
From Mar 2024 to Apr 2024
Halcon Resources (NYSE:HK)
Historical Stock Chart
From Apr 2023 to Apr 2024