New Issue: Halcon Resources prices $200 million tap of 6¾% notes due 2025 at 103

By Paul A. Harris

Portland, Ore., Feb. 6 – Halcon Resources Corp. priced a $200 million add-on to its 6¾% senior notes due Feb. 15, 2025 (Caa1/CCC+) at 103, with a 6.046% yield to maturity, according to a market source.

The reoffer price came at the cheap end of the 103 to 103.5 price talk.

J.P. Morgan Securities LLC, Goldman Sachs & Co., BMO Securities, Wells Fargo Securities LLC, BofA Merrill Lynch, Natixis Securities and RBC Capital Markets LLC were the joint bookrunners.

The Houston-based independent energy company plans to use the proceeds to fund a portion of its recently announced acquisitions of Southern Delaware Basin assets and for general corporate purposes.

Issuer:	Halcon Resources Corp.
Amount:	$200 million
Maturity:	Feb. 15, 2025
Security description:	Add-on to 6¾% senior notes due Feb. 15, 2025
Bookrunners:	J.P. Morgan Securities LLC, Goldman Sachs & Co., BMO Securities, Wells Fargo Securities LLC, BofA Merrill Lynch, Natixis Securities, RBC Capital Markets LLC
Coupon:	6¾%
Price:	103
Yield to maturity:	6.046%
Spread:	348 bps
First call date:	Feb. 15, 2020
Trade date:	Feb. 7
Settlement date:	Feb. 15
Ratings:	Moody's: Caa1
	S&P: CCC+
Distribution:	Rule 144A and Regulation S
Price talk:	103 to 103.5

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