Independent oil company Harbour Energy Plc. (HBR.L) on Tuesday announced the pricing of the $900 million offering of 6.327% Senior Notes, due 2035. The offering is expected to close on or about April 1, subject to customary conditions set for similar transactions.
The company said that it plans to use the proceeds from the offering to finance the purchase for cash any and all of its outstanding 5.5 percent Senior Notes due 2026. It will also be used for the repayment of existing debt and for general corporate purposes and to pay certain costs, expenses, and fees related to the offering and the tender offer.
Harbour Energy noted that the consummation of the tender offer is subject to the satisfaction or waiver of a number of conditions as mentioned in the offer to purchase, dated March 20. The tender offer is not conditioned on any minimum amount of notes being tendered.
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