Halcón Resources Prices Offering of Unsecured Notes
February 07 2018 - 4:10PM
Halcón Resources Corporation (NYSE: HK)
(“Halcón” or the “Company”) today announced that it has priced an
additional $200 million in aggregate principal amount of its 6.75%
senior unsecured notes due 2025 (the “Additional Senior Notes”) in
a private offering at an issue price of 103% of par and a yield to
worst of 6.046%. The Additional Senior Notes are being
offered as additional notes to the 6.75% senior notes due 2025 that
the Company sold in a private placement that settled on February
16, 2017 (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 for general corporate purposes and to fund a portion of
the acquisition purchase price for its recently announced
acquisitions of Southern Delaware Basin assets (the
“Acquisition”). 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 securities were offered 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 Company expects to close the
offering on or about February 15, 2018, subject to customary
closing conditions.
The securities offered by Halcón 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
Halcon Resources (NYSE:HK)
Historical Stock Chart
From Mar 2024 to Apr 2024
Halcon Resources (NYSE:HK)
Historical Stock Chart
From Apr 2023 to Apr 2024