Halcón Resources Announces $700 Million Offering of Unsecured Notes
February 09 2017 - 7:55AM
Halcón Resources Corporation (NYSE:HK) (“Halcón” or the “Company”),
today announced that, subject to market conditions, it intends to
offer $700 million in aggregate principal amount of senior
unsecured notes due 2025 (the “Notes”).
Halcón intends to use the net proceeds from the offering,
together with additional borrowings under its senior secured
revolving credit facility or cash on hand, to repurchase and/or
redeem the Company’s $700 million of currently outstanding 8.625%
second lien notes due 2020.
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 offering will be made only 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 securities offered by the Company 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.
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