Halcón Resources Announces the Redemption of All Remaining 8.625% Senior Secured Notes Due 2020
February 16 2017 - 4:15PM
Halcón Resources Corporation (NYSE:HK) (“Halcón” or the “Company”)
announced today that it accepted and has repurchased $289.2 million
of its outstanding 8.625% Senior Secured Notes due 2020 (the “2020
Notes”) through a tender offer, and has $2.1 million aggregate
principal amount of the 2020 Notes that remain subject to
repurchase pursuant to the guaranteed delivery procedures, and will
redeem all remaining outstanding 2020 Notes. The remaining $410.8
million of 2020 Notes will be repurchased through the guaranteed
delivery procedures or redeemed at a price of 104.313% of the
principal amount thereof, plus accrued and unpaid interest to, but
not including, the redemption date. The redemption date is expected
to be March 20, 2017.
Halcón used a portion of the net proceeds from its previously
announced private placement of $850 million 6.75% Senior Notes due
2025 to fund the repurchase of the tendered 2020 Notes and will use
the remaining net proceeds to redeem the 2020 Notes and for general
corporate purposes, including to repay borrowings under the
Company’s senior revolving credit facility.
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.
Such notice is being made in accordance with the provisions of such
indenture.
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 Aug 2024 to Sep 2024
Halcon Resources (NYSE:HK)
Historical Stock Chart
From Sep 2023 to Sep 2024