WildHorse Resource Development Corporation Prices $200 Million Offering of Additional 6.875% Senior Notes due 2025
April 18 2018 - 4:05PM
Business Wire
WildHorse Resource Development Corporation (NYSE: WRD) announced
today the pricing of its previously announced private placement to
eligible purchasers of $200 million in aggregate principal amount
of its 6.875% Senior Notes due 2025 at an issue price of 102.00% of
par. The senior notes are being offered as additional notes to the
$500 million aggregate principal amount of 6.875% Senior Notes due
2025 that WRD previously issued on February 1, 2017 and September
19, 2017. The additional senior notes and the senior notes issued
on February 1, 2017 and September 19, 2017 will be treated under
the Indenture as a single class of debt securities and will have
identical terms, but until the additional senior notes are
exchanged for registered senior notes, the additional senior notes
will trade under a different CUSIP number. The offering is expected
to close on April 20, 2018, subject to customary closing
conditions.
WRD intends to use the net proceeds from the proposed offering
to repay the borrowings outstanding under its revolving credit
facility and for general corporate purposes.
The securities to be offered have not been registered under the
Securities Act of 1933, as amended (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 notes are expected to be eligible for
trading by qualified institutional buyers under Rule 144A and
outside the United States pursuant to Regulation S.
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 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 notes or any other securities in
any jurisdiction in which such offer, solicitation or sale is
unlawful.
About WildHorse Resource Development
WildHorse Resource Development Corporation is an independent oil
and natural gas company focused on the acquisition, exploration,
development and production of oil, natural gas and NGL properties
primarily in the Eagle Ford Shale and Austin Chalk in East
Texas.
Cautionary Statement Concerning Forward-Looking
Statements
This press release includes "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. Forward-looking statements can be identified by words such
as “anticipates,” “intends,” “will,” “plans,” “seeks,” “believes,”
“estimates,” “could,” “expects” and similar references to future
periods. Such forward-looking statements are subject to a number of
risks and uncertainties, many of which are beyond WRD’s control.
All statements, other than historical facts included in this press
release that address activities, events or developments that WRD
expects or anticipates will or may occur in the future are
forward-looking statements. All forward-looking statements speak
only as of the date of this press release. Although WRD believes
that the plans, intentions and expectations reflected in or
suggested by the forward-looking statements are reasonable, there
is no assurance that these plans, intentions or expectations will
be achieved. Therefore, actual outcomes and results could
materially differ from what is expressed, implied or forecast in
such statements.
WRD cautions you that these forward-looking statements are
subject to risks and uncertainties, most of which are difficult to
predict and many of which are beyond WRD’s control, incident to the
exploration for and development, production, gathering and sale of
natural gas and oil. These risks include, but are not limited to:
commodity price volatility; inflation; lack of availability of
drilling and production equipment and services; environmental
risks; drilling and other operating risks; regulatory changes; the
uncertainty inherent in estimating natural gas and oil reserves and
in projecting future rates of production, cash flow and access to
capital; and the timing of development expenditures. Information
concerning these and other factors can be found in WRD’s filings
with the SEC, including its Forms 10-K, 10-Q and 8-K. Consequently,
all of the forward-looking statements made in this press release
are qualified by these cautionary statements and there can be no
assurances that the actual results or developments anticipated by
WRD will be realized, or even if realized, that they will have the
expected consequences to or effects on WRD, its business or
operations. WRD has no intention, and disclaims any obligation, to
update or revise any forward-looking statements, whether as a
result of new information, future results or otherwise.
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version on businesswire.com: https://www.businesswire.com/news/home/20180418006395/en/
WildHorse Resource Development CorporationPearce Hammond, CFA,
(713) 255-7094Vice President, Investor Relationsir@wildhorserd.com
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