New Issue: Quicksilver upsized $350 million 10-year notes yield 7 1/8%

By Paul A. Harris

St. Louis, March 13 - Quicksilver Resources Inc. priced an upsized $350 million issue of 10-year senior subordinated notes (B2/B) at par to yield 7 1/8%, according to an informed source.

The yield came in the middle of the 7% to 7¼% price talk.

JP Morgan and Credit Suisse were joint bookrunners for the issue that has been registered with the Securities and Exchange Commission. The co-managers were Banc of America Securities LLC, BNP Paribas and Goldman Sachs & Co.

Proceeds will be used to refinance existing debt.

The issue was upsized from $300 million.

The issuer is a Fort Worth, Texas-based oil and gas exploration and production company.

Issuer:	Quicksilver Resources Inc.
Amount:	$350 million (increased from $300 million)
Maturity:	April 1, 2016
Security description:	Senior subordinated notes
Bookrunners:	JP Morgan, Credit Suisse
Co-managers:	Banc of America Securities LLC, BNP Paribas, Goldman Sachs & Co.
Coupon:	7 1/8%
Price:	Par
Yield:	7 1/8%
Spread:	236 basis points
Call features:	Make-whole call at Treasuries plus 50 basis points until April 1, 2011 then callable at 103.563, 102.375, 101.188, par on and after April 1, 2014
Equity clawback:	Until April 1, 2009 for 35% at 107.125
Trade date:	March 13
Settlement date:	March 16
Ratings:	Moody's: B2
	Standard & Poor's: B
Distribution:	SEC registered
Price talk:	7%-7¼%

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