Resolute Energy Corporation Announces $550 Million Senior Notes Offering
November 13 2017 - 9:08AM
Resolute Energy Corporation (“Resolute” or the “Company”)
(NYSE:REN) announced today that it has launched an offering for
$550 million of senior notes due 2025 (the “2025 Senior
Notes”). The offering of the 2025 Senior Notes, which is
subject to certain customary conditions, will be made only to
persons believed to be qualified institutional buyers in reliance
on Rule 144A under the Securities Act of 1933, as amended (the
“Securities Act”), and non-U.S. persons in transactions outside the
United States in reliance on Regulation S under the Securities
Act. The 2025 Senior Notes will be general unsecured
obligations of the Company and guaranteed on a senior basis by
certain of the Company’s existing and future domestic subsidiaries.
Resolute intends to use the net proceeds from the 2025 Senior
Notes, together with cash on hand, to redeem all of its outstanding
8.50% senior notes due 2020 (the “Existing Notes”) and to pay
related fees and expenses.
The 2025 Senior Notes and the related guarantees have not been
registered under the Securities Act or the securities laws of any
state or other jurisdiction, and the 2025 Senior Notes may not be
offered or sold in the United States without registration or an
applicable exemption from the registration requirements of the
Securities Act and applicable state securities or blue sky laws and
foreign securities laws.
This press release shall not constitute an offer to sell, or the
solicitation of an offer to buy any securities, nor shall there be
any sales of securities in any jurisdiction in which such offer,
solicitation or sale would be unlawful prior to registration or
qualification under the securities laws of any such jurisdiction.
This press release does not constitute a notice of redemption for
purposes of the indenture governing the Existing Notes. This press
release is being issued pursuant to and in accordance with Rule
135(c) under the Securities Act.
Cautionary Statements
The statements in this press release relating to the use of
proceeds from the offering are "forward-looking statements" within
the meaning of the safe harbor provisions of the United States
Private Securities Litigation Reform Act of 1995. Resolute
undertakes no obligation and does not intend to update these
forward-looking statements to reflect events or circumstances
occurring after the date of this press release. You are cautioned
not to place undue reliance on these forward-looking statements,
which speak only as of the date of this press release. All
forward-looking statements are qualified in their entirety by this
cautionary statement.
About Resolute Energy Corporation
Resolute is an independent oil and gas company focused on the
acquisition and development of unconventional oil and gas
properties in the Delaware Basin portion of the Permian Basin of
west Texas. The Company's common stock is traded on the NYSE under
the ticker symbol "REN."
Contact:HB JuenglingVice President
- Investor RelationsResolute Energy Corporation303-534-4600,
extension 1555 hbjuengling@resoluteenergy.com
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