Harbour Energy talks $500 million five-year notes to yield 5¼%-5½%; pricing Thursday

By Paul A. Harris

Portland, Ore., Oct. 7 – Harbour Energy plc talked its $500 million offering of five-year senior notes (BB-/BB) to yield 5¼% to 5½%, in line with initial guidance in the low-to-mid 5% area, according to market a source.

The Rule 144A and Regulation S deal is set to price on Thursday.

JPMorgan is the lead.

The notes come with two years of call protection.

The London-based oil and gas company plans to use the proceeds to pay off its Shell junior facility and repay cash drawn under the senior secured reserves-based lending facility.

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