NATCHEZ, Miss., May 19, 2017 /PRNewswire/ -- Callon Petroleum
Company (NYSE: CPE) ("Callon" or the "Company") today announced,
subject to market and other conditions, it intends to offer an
additional $150 million aggregate
principal amount of its 6.125% senior unsecured notes due 2024 (the
"Additional Notes") in a private placement to eligible purchasers
under Rule 144A and Regulation S of the Securities Act of 1933, as
amended (the "Securities Act").
The Company has previously issued $400
million aggregate principal amount of its senior unsecured
notes due 2024 (the "Existing Notes") under the Indenture, dated
October 3, 2016 among the Company,
the guarantor party thereto and U.S. Bank National Association, as
trustee. The Additional Notes will have identical terms to the
Existing Notes other than their date of issue and their initial
price to the public and will be treated as a single series with the
Existing Notes, but will not be fungible with the Existing Notes
for trading purposes unless and until the Existing Notes and the
Additional Notes are exchanged for registered notes.
The Company intends to use the net proceeds of the offering to
fund certain pending acquisitions in the Delaware Basin and for general corporate
purposes.
The securities to be offered have not been registered under the
Securities Act or any state securities laws and unless so
registered, the securities may not be offered or sold in
the United States except pursuant
to an exemption from, or in a transaction not subject to, the
registration requirements of the Securities Act and applicable
state securities laws. The Additional Notes are expected to be
eligible for trading by qualified institutional buyers in
the United States under Rule 144A
under the Securities Act and outside the
United States pursuant to Regulation S under the Securities
Act.
This press release is being issued pursuant to Rule 135c under
the Securities Act, and is neither an offer to sell nor a
solicitation of an offer to buy the Additional Notes or any other
securities and shall not constitute an offer to sell or a
solicitation of an offer to buy, or a sale of, the Additional Notes
or any other securities in any jurisdiction in which such offer,
solicitation or sale is unlawful.
About Callon Petroleum Company
Callon is an independent energy company focused on the
acquisition, development, exploration, and operation of oil and gas
properties in the Permian Basin in West
Texas.
Cautionary Statement Regarding Forward Looking
Statements
This news release contains "forward-looking statements" within
the meaning of the federal securities laws. All statements, other
than historical facts, that address activities that the Company
assumes, plans, expects, believes, intends or anticipates (and
other similar expressions) will, should or may occur in the future
are forward-looking statements. The forward-looking statements are
based on management's current beliefs, based on currently available
information, as to the outcome and timing of future events. These
forward-looking statements involve certain risks and uncertainties
that could cause the results to differ materially from those
expected by the Company's management. Information concerning these
risks and other factors can be found in the Company's filings with
the Securities and Exchange Commission, including its Annual
Reports on Form 10-K and Quarterly Reports on Form 10-Q, available
on the Company's website or the SEC's website at www.sec.gov.
For further information contact:
Eric Williams
Manager, Investor Relations
1-800-451-1294
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SOURCE Callon Petroleum Company