HOUSTON, TEXAS, Jan. 9, 2013 (GLOBE NEWSWIRE) -- Halcón Resources Corporation (NYSE: HK) ("Halcón" or the "Company") today announced that it has priced an additional $600 million in aggregate principal amount of its 8.875% senior unsecured notes due 2021 in a private offering at an issue price of 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 November 6, 2012. The additional senior notes and the notes issued on November 6, 2012 will be treated as a single class of debt securities and will have identical terms, other than the issue date.
Halcón intends to use the net proceeds from the offering to repay outstanding indebtedness under its senior secured revolving credit facility and for general corporate purposes, including to fund a portion of the Company's 2013 capital expenditure program.
The securities were offered to qualified institutional buyers pursuant to Rule 144A and to certain persons in offshore transactions pursuant to Regulation S, each under the Securities Act of 1933 (the "Securities Act"), as amended. The Company expects to close the offering on or about January 14, 2013, subject to customary closing conditions.The senior notes have not been registered under the Securities Act or any state securities laws and may not be offered or sold in the United States except pursuant to an applicable exemption from the registration requirements of the Securities Act and applicable state securities laws. This press release shall not constitute an offer to sell or the solicitation of an offer to buy the securities. Forward-Looking Statements This release contains forward-looking statements within the meaning of Section 27A of the Securities Act and Section 21E of the Securities and Exchange Act of 1934, as amended. Such forward looking statements include, but are not limited to, the size of the offering and the anticipated use of proceeds. Forward-looking statements are based on current beliefs and expectations and involve certain assumptions or estimates that involve various risks and uncertainties that could cause actual results to differ materially from those reflected in the statements. Readers should not place undue reliance on any such forward-looking statements, which are made only as of the date hereof. The Company has no duty, and assumes no obligation, to update forward-looking statements as a result of new information, future events or changes in the Company's expectations.