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Hilcorp Energy to sell $500 million 10-year notes in Monday drive-by; initial talk 6¼% area
By Paul A. Harris
Portland, Ore., Oct. 1 – Hilcorp Energy Co. plans to price a $500 million offering of 10-year notes (expected ratings Ba2/BB+) in a quick-to-market Monday trade, according to market sources.
Initial price talk is in the 6¼% area, a trader said.
J.P. Morgan Securities LLC is the lead.
The notes come with five-years of call protection.
The Houston-based oil and gas exploration and production company plans to use the proceeds to repay bank debt and for general corporate purposes.
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