Heckmann Corporation Announces Closing Of $150,000,000 Senior Notes Due 2018

Heckmann Corporation (NYSE: HEK) (“Heckmann”) today announced that its wholly-owned subsidiary, Rough Rider Escrow, Inc., has closed its previously announced offering of $150,000,000 in aggregate principal amount of 9.875% senior notes due 2018 (the “Senior Notes”) in a private placement to qualified institutional buyers within the United States and to non-U.S. persons outside of the United States. The Senior Notes were issued at a price of 100.250% of their principal amount.

The net proceeds from the offering of the Senior Notes will be used to partially finance the pending merger of Badland Power Fuels, LLC (formerly Badlands Energy, LLC) with and into a wholly-owned subsidiary of Heckmann and to pay related fees and expenses. Promptly after the consummation of the merger, the Senior Notes will be exchanged for a like principal amount of Heckmann 9.875% Senior Notes due 2018 (the “Exchange Notes”), such Exchange Notes to constitute an additional issuance of Heckmann’s currently outstanding 9.875% Senior Notes due 2018 under Heckmann’s existing Indenture dated as of April 10, 2012, as amended.

The Senior Notes have not been registered under the United States Securities Act of 1933, as amended (the “Securities Act”), or any state securities laws, and may not be offered or sold in the United States absent registration or an applicable exemption from the registration requirements of the Securities Act and state securities laws. The Senior Notes are eligible for resale by the initial purchasers thereof, pursuant to Rule 144A and Regulation S under the Securities Act.

This press release is being issued pursuant to Rule 135c under the Securities Act, and is neither an offer to sell nor a solicitation of an offer to buy any of these securities and shall not constitute an offer, solicitation or sale in any jurisdiction in which such offer, solicitation or sale is unlawful.

If you liked this article you might like

'Mad Money' Lightning Round: Don't Sell Heckmann

Cramer's 'Mad Money' Recap: Next Week's Game Plan

Cramer's 'Mad Money' Recap: Next Week's Game Plan (Correct)

Cramer Quick Take: My Top Rail Stocks

What Heckmann Reveals About the Domestic Energy Picture