Halcon offers 39% of par in exchange offer for three series of notes

By Angela McDaniels

Tacoma, Wash., Nov. 19 – Halcon Resources Corp. is offering to issue up to $150 million of new 12% second-lien senior secured notes due 2022 in exchange for its $462,214,000 of outstanding 9¾% senior notes due 2020, $493,671,000 of outstanding 8 7/8% senior notes due 2021 and $93,995,000 of outstanding 9¼% senior notes due 2022, according to a company news release.

The company is offering $390 principal amount of new notes in exchange for each $1,000 principal amount of notes tendered by the early tender date.

The exchange consideration for notes tendered after the early tender date but prior to the offer expiration is $370 per $1,000 principal amount of notes.

The company will also pay accrued interest up to but excluding the settlement date in cash.

The early tender date is 11:59 p.m. ET on Dec. 3, and the offer will expire at 11:59 p.m. ET on Dec. 17.

The exchange offer is conditioned on, among other things, the receipt of tenders for at least $270.3 million of existing notes.

The exchange offer is only being made to noteholders who are “qualified institutional buyers” within the meaning of Rule 144A under the Securities Act or not “U.S. persons” and are outside of the United States within the meaning of Regulation S under the Securities Act.

The information agent is Bondholder Communications Group (888 385-2663, 212 809-2663 or www.bondcom.com/Halcon).

Halcon Resources is a Houston-based oil and natural gas company.

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