Halcón Resources Announces Results of Tender Offer for its 8.625% Senior Secured Notes Due 2020
February 16 2017 - 09:15AM
Halcón Resources Corporation (NYSE:HK) (“Halcón” or the “Company”)
announced today the results of its previously announced cash tender
offer for any and all of its outstanding $700 million in aggregate
principal amount of 8.625% Senior Secured Notes due 2020 (the “2020
Notes”), which expired at 5:00 p.m., New York City time, on
February 15, 2017. Pursuant to the tender offer, Halcón has
received $289.2 million or approximately 41% of the outstanding
aggregate principal amount of the 2020 Notes which were validly
tendered (and not validly withdrawn), excluding $2.1 million
aggregate principal amount of the 2020 Notes that remain subject to
guaranteed delivery procedures. Subject to the conditions specified
in the offer to purchase, including the closing of the Company’s
previously announced debt financing transaction, the Company
expects to accept all such 2020 Notes validly tendered and not
validly withdrawn in the tender offer and to make the payment
therefor on February 16, 2017, or with respect to notes tendered
pursuant to the guaranteed delivery procedures, on February 21,
2017.
JPMorgan Securities acted as dealer manager in connection with
the tender offer and U.S. Bank National Association served as
depositary and information agent for the tender offer.
The complete terms and conditions of the tender offer are
described in the offer to purchase and related letter of
transmittal and notice of guaranteed delivery. These
documents are available by contacting U.S. Bank National
Association by phone at (651) 466-7367 (banks and brokers) or (800)
934-6802 (option 8) (all others).
This announcement is not an offer to purchase or a solicitation
of an offer to sell any securities and shall not constitute a
notice of redemption under the indenture governing the 2020
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.
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