Halcon Resources talks $700 million 8.5-year notes to yield 9%-9¼%

By Paul A. Harris

Portland, Ore., Oct. 22 - Halcon Resources Corp. talked its $700 million offering of 8.5-year senior notes (B3/CCC+) to yield 9% to 9¼% on Monday, according to a syndicate source.

Books close at noon ET on Tuesday, and the deal is set to price thereafter.

Wells Fargo Securities LLC is the left bookrunner. J.P. Morgan Securities LLC, Barclays and Goldman Sachs & Co. are the joint bookrunners.

The co-managers are BMO Securities, Bank of America Merrill Lynch, Capital One Southcoast, Credit Agricole CIB, Credit Suisse Securities (USA) LLC, Natixis, RBC Capital Markets, RBS Securities Inc., SunTrust Robinson Humphrey, Comerica Securities, Deutsche Bank Securities Inc., ING, KeyBanc Capital Markets and Scotia Capital.

The Rule 144A and Regulation S with registration rights notes come with four years of call protection.

The Houston-based oil and gas exploration and production company plans to use the proceeds, together with cash on hand, to fund a cash consideration payable in connection with the Williston Basin assets acquisition.

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