Halcon Resources Corp (NYSE:HK) Prices $400 Million of Senior Unsecured Note

Denver, CO, 08/09/2013 (Avauncer.com) – Halcon Resources Corp (NYSE:HK) closed in the previous trading session at $5.23 after going down by $0.64 (or -10.90%). With about 370.08 million outstanding shares, the market capitalization of the company is $1.94 billion.

The company, Halcon Resources Corporation has announced yesterday that it has priced senior unsecured note for an aggregate principal amount of $400 million of, due 2022, in a private offering.

The Notes will hold interest at 9.25% per year and will be issued at par.  Previously, aggregate principal amount of $300 million of Notes was announced, but the private offering was then upsized.

To repay a portion of the outstanding borrowings, the company wants to use the net proceeds from the offering, under its senior secured revolving credit facility. This credit facility has been and will continue to be used to fund acquisitions of both producing and leasehold properties in core areas, partially.

The qualified institutional buyers were offered the securities pursuant to Rule 144A. Also, a few in offshore transactions were offered the securities pursuant to Regulation S. These securities were offered under the Securities Act of 1933 which has been amended. On or about Aug. 13, 2013, the Company expects to close the offering.

The Notes have not been registered under any state securities laws or the Securities Act and these Notes may not be sold or offered in the United States, though those Notes can be offered or sold, which are pursuant to an applicable exemption from the requirements of registration of the applicable state securities laws and the Securities Act. This press release will not contain the solicitation of an offer or an offer to sell to buy the securities.

Halcon Resources Corporation is an energy company that is engaged in the production, exploration, acquisition and development of natural gas and onshore oil properties in the United States.