Halcon Resources to pay down revolver borrowings via new notes, stock

By Marisa Wong

Madison, Wis., Aug. 7 - Halcon Resources Corp. said it intends to repay portions of the outstanding borrowings under its senior secured revolving credit facility using proceeds from an offering of senior notes and proceeds from an offering of common stock.

Borrowings under the revolver were used to partially fund acquisitions of leasehold and producing properties in core areas, according to a news release.

Halcon announced on Wednesday that it plans to issue $300 million of senior notes due 2022 in a Rule 144A and Regulation S offering.

The company also intends to conduct a public offering of 38 million shares of common stock with a greenshoe for up to 5.7 million additional shares. Barclays and BMO Capital Markets are the joint bookrunners for the public stock sale.

Halcon is an oil and gas company based in Houston.

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