Halcon Resources Corporation (HK: Quote) said Friday that it has priced $750 million aggregate principal amount of senior unsecured notes due 2020 in a private offering.
These Notes will bear interest at a rate of 9.75 percent per annum and will be issued at 98.646 percent of par.
The private offering was upsized from the previously announced $500 million aggregate principal amount of Notes.
Halcon said that it plans to use the net proceeds from the offering to fund the cash consideration payable in connection with its pending acquisition of GeoResources, Inc. and for general corporate purposes.
The offering is expected to close on or about July 16, 2012, subject to release upon closing of the GeoResources acquisition.
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by RTT Staff Writer
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