Halcon’s tender for $425 million of 6¾% notes is oversubscribed

New York, Oct. 10 – Halcon Resources Corp. said that its tender offer to purchase for cash up to $425 million of its $850 million outstanding 6¾% senior notes due 2025 was oversubscribed.

As a result, the company will buy $425 million of the notes on a prorated basis.

As announced on Sept. 7, the company was offering to purchase the notes at 103 plus accrued interest.

The offer expired at 5 p.m. ET on Oct. 6.

Halcon was required to make the tender under the terms of the note indenture following the sale of its Williston Basin assets for $1.4 billion.

The company also said on Tuesday that its previously announced redemption of all of its outstanding 12% second-lien notes due 2022 was completed as planned on Oct. 7.

Once the tender is completed, the company’s only outstanding debt will be the remaining $425 million of 6¾% notes.

Halcon is a Houston-based independent energy company focused on onshore oil and natural gas exploration.

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