Petrohawk gets needed consents to amend $769 million in 9 1/8% notes

By Devika Patel

Knoxville, Tenn., Aug. 20 - Petrohawk Energy Corp. received the necessary consents to amend its 9 1/8% senior notes due 2013 and amended the notes on Aug. 17, according to an 8-K filed Friday with the Securities and Exchange Commission.

The company was seeking consents to amend certain restrictive covenants and events of default in the notes' indenture as part of a cash tender offer for all $769 million of the notes that launched Aug. 3 and will expire at 11:59 p.m. ET on Aug. 30.

Holders who tendered by the consent deadline of 5 p.m. ET on Aug. 16 will receive the total consideration of $1,048.13 per $1,000 in notes, which includes a $30.00 consent payment. Holders who tender after this date, but before the expiration date, will receive $1,018.13 per $1,000 in notes.

The company will also pay interest to, but excluding, the payment date.

Barclays Capital (800 438-3242 and 212 528-7581) is the dealer manager and solicitation agent.

On Aug. 19, the company decided it would redeem the remaining $115.99 million in notes at 104.563 plus interest to, but not including, Sept. 20, the redemption date.

Petrohawk is a Houston-based independent energy company.

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