FORT WORTH, Texas, May 23, 2013 (GLOBE NEWSWIRE) -- Quicksilver Resources Inc. (" Quicksilver") (NYSE:KWK) today announced the commencement of a solicitation (the " Solicitation") of consents (the " Consents") upon the terms and subject to the conditions set forth in a Consent Solicitation Statement (as it may be amended or supplemented from time to time, the " Statement") and the accompanying Form of Consent (the " Consent Form"), each dated as of May 23, 2013, to certain proposed amendments (the " Proposed Amendments") to the indenture, dated as of December 22, 2005, among Quicksilver, the subsidiary guarantors party thereto (the " Guarantors") and The Bank of New York Mellon Trust Company, N.A. (as successor in interest to JPMorgan Chase Bank, National Association), as trustee (the " Trustee"), as supplemented by an Eighth Supplemental Indenture dated as of August 14, 2009, a Twelfth Supplemental Indenture dated as of December 23, 2011, a Sixteenth Supplemental Indenture, dated as of February 28, 2012 and a Twentieth Supplemental Indenture dated as of June 13, 2012 (the indenture as so supplemented, the " Indenture"), governing its 9 1/8% Senior Notes due 2019 (the " 2019 Senior Notes"). The Proposed Amendments would amend the Indenture to permit Quicksilver to refinance its 7 1/8% Senior Subordinated Notes due 2016 (the " 2016 Subordinated Notes"), its 11 3/4% Senior Notes due 2016 and its 8 1/4% Senior Notes due 2015 by incurring indebtedness that ranks equally in right of payment to, but with longer maturities than, the 2019 Senior Notes, to permit any such refinancing of the 2016 Subordinated Notes prior to their maturity to be excluded from the covenant regarding limitation on restricted payments in the Indenture and to give Quicksilver greater flexibility to incur secured and unsecured indebtedness pursuant to offerings of debt securities in connection with such refinancing or otherwise. The Proposed Amendments will be effected by a supplemental indenture to the Indenture that is described in more detail in the Statement.
Quicksilver Resources Inc. Commences Consent Solicitation For Its 9 1/8% Senior Notes Due 2019
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