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Quicksilver Resources Announces Pricing Of Second Lien Senior Secured Floating Rate Notes Offering

FORT WORTH, Texas, June 12, 2013 (GLOBE NEWSWIRE) -- Quicksilver Resources Inc. ("Quicksilver") (NYSE:KWK) announced today that it priced its previously announced private offering of second lien senior secured floating rate notes due 2019 (the "notes") in an aggregate principal amount of $200 million. The notes will bear interest at a floating rate equal to 3-month LIBOR plus an applicable margin of 5.75% per annum. The notes will be issued at 97.000% of their face value and will mature the earlier of (i) June 21, 2019 or (ii) any date on which the notes will be required to be redeemed in full pursuant to the terms of the indenture governing the notes.

Quicksilver intends to use the net proceeds from the offering, the net proceeds from the expected $625 million senior secured second priority term loan facility maturing in 2019, the net proceeds from the expected private offering of $325 million aggregate principal amount of senior notes due 2021 and cash on hand, to (i) repurchase any and all of its outstanding 8 1/4% Senior Notes due 2015 (the "2015 Senior Notes") and its outstanding 11 3/4% Senior Notes due 2016 (the "2016 Senior Notes") validly tendered in previously announced tender offers and related consent solicitations (the "Tender Offer"), (ii) pay any fees and expenses for the Tender Offers and for a previously announced consent solicitation with respect to its 9 1/8% Senior Notes due 2019 (the "2019 Senior Notes") (the "Consent Solicitation"), including any applicable consent solicitation fees, tender premiums and accrued interest on the 2015 Senior Notes, the 2016 Senior Notes and the 2019 Senior Notes, and (iii) in its discretion, repurchase, redeem or discharge the 2015 Senior Notes or the 2016 Senior Notes, if any, that remain outstanding after the completion of the Tender Offers.

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