Halcón Resources Announces Offering of Unsecured Notes
February 06 2018 - 4:01PM
NEWS RELEASE
Halcón Resources Corporation (NYSE:HK) (“Halcón”
or the “Company”), today announced that, subject to market
conditions, it intends to offer (the “offering”) an additional $200
million in aggregate principal amount of its 6.75% senior unsecured
notes due 2025 (the “Additional Senior Notes”). The Additional
Senior Notes are being offered as additional notes to the Company’s
6.75% senior notes due 2025 (the “Existing Senior Notes”), of which
approximately $425 million is currently outstanding. The Additional
Senior Notes and the Existing Senior Notes will be treated as a
single class of debt securities and will have identical terms,
other than the issue date and issue price, except that the
Additional Senior Notes will initially be subject to restrictions
on transfer under applicable securities laws.
Halcón intends to use the net proceeds from the
offering to fund a portion of the purchase price for its recently
announced acquisitions of Southern Delaware Basin assets (the
“Acquisition”) and for general corporate purposes. The
offering is not conditioned upon the closing of the
Acquisition.
The Additional Senior 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.
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.
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, 2016 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. 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.
Quentin Hicks, Executive Vice President of Finance, Capital Markets & Investor Relations
832-538-0557
qhicks@halconresources.com.
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