Halcón Resources Corp. (HK) has priced an additional $600 million in aggregate principal amount of its 8.875% senior unsecured notes due 2021 in a private offering at 105.000% of par.
The add-on offering of senior notes was upsized from the previously announced $400 million aggregate principal amount. The senior notes are being offered as additional notes to the $750 million aggregate principal amount of 8.875% senior notes due 2021 that the company sold in a private offering on Nov. 6. The additional senior notes and the notes issued on Nov. 6 will be treated as a single class of debt securities and will have identical terms, other than the issue date.
Net proceeds will be used to repay outstanding indebtedness under its senior secured revolving credit facility and for general corporate purposes, including funding a portion of the company's 2013 capital expenditure program.
Halcón Resources Corp. is an independent energy company based in Houston that is engaged in the acquisition, production, exploration and development of onshore oil and natural gas properties in the US.