Halcon Resources Prices $600 Million Add-On Offering of Senior Notes
HOUSTON, TEXAS, Jan. 9, 2013 (GLOBE NEWSWIRE) -- Halcón Resources Corporation
(NYSE: HK) ("Halcón" or the "Company") today announced that it has priced an
additional $600 million in aggregate principal amount of its 8.875% senior
unsecured notes due 2021 in a private offering at an issue price of 105.000%
of par. The add-on offeringof senior notes was upsized from the previously
announced $400 million aggregate principal amount. The senior notes are being
offered as additional notes to the $750 million aggregate principal amount of
8.875% senior notes due 2021 that the Company sold in a private offering on
November 6, 2012. The additional senior notes and the notes issued on
November 6, 2012 will be treated as a single class of debt securities and will
have identical terms, other than the issue date.
Halcón intends to use the net proceeds from the offering to repay outstanding
indebtedness under its senior secured revolving credit facility and for
general corporate purposes, including to fund a portion of the Company's 2013
capital expenditure program.
The securities were offered to 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 (the "Securities Act"), as amended. The
Company expects to close the offering on or about January 14, 2013, subject to
customary closing conditions.
The senior notes have not been registered under the Securities Act or any
state securities laws and 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.
This release contains forward-looking statements within the meaning of Section
27A of the Securities Act and Section 21E of the Securities and Exchange Act
of 1934, as amended. Such forward looking statements include, but are not
limited to, the size of the offering and the anticipated use of proceeds.
Forward-looking statements are based oncurrentbeliefs and expectationsand
involve certain assumptions or estimatesthat involvevarious risks and
uncertainties thatcould cause actual results to differ materially from those
reflected in the statements. Readers should not place undue reliance on any
such forward-looking statements, which are made only as of the date hereof.
The Companyhas no duty, and assumes no obligation, to update forward-looking
statementsas a result ofnew information, future events or changes inthe
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.
CONTACT: Scott M. Zuehlke
VP, Investor Relations
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