New Issue: Resolute Energy prices $250 million 8½% eight-year notes at par

By Paul A. Harris

Portland, Ore., April 20 - Resolute Energy Corp. priced a $250 million issue of eight-year senior notes (B3/B-/) at par to yield 8½% on Friday, according to a syndicate source.

The yield printed at the tight end of the 8½% to 8¾% yield talk.

Citigroup Global Markets Inc. and BMO Capital Markets Corp. were the joint physical bookrunners. Wells Fargo Securities LLC was a joint bookrunner.

The Denver-based independent oil and gas company plans to use the proceeds to repay debt and for general corporate purposes, including capital expenditures.

Issuer:	Resolute Energy Corp.
Amount:	$250 million
Maturity:	May 1, 2020
Securities:	Senior notes
Joint physical bookrunners:	Citigroup Global Markets Inc., BMO Capital Markets Corp.
Joint bookrunner:	Wells Fargo Securities LLC
Coupon:	8½%
Price:	Par
Yield:	8½%
Spread:	712 bps
Call features:	Make-whole call at Treasuries plus 50 bps until May 1, 2016, then callable at 104.25, 102.125, par on and after May 1, 2018
Equity clawback:	35% at 108.5 until May 1, 2015
Change-of-control put:	101%
Trade date:	April 20
Settlement date:	April 25
Ratings:	Moody's: B3
	Standard & Poor's: B-
Distribution:	Rule 144A and Regulation S with registration rights
Price talk:	8½% to 8¾%
Marketing:	Roadshow

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