Resolute Energy marketing $550 million eight-year notes

By Paul A. Harris

Portland, Ore., Nov. 13 – Resolute Energy Corp. is in the market with a $550 million offering of eight-year senior notes (existing ratings Caa1/B-), according to market sources.

The deal is expected to be in the market on a short timeline, a sellside source said, adding that it could price and allocate before Monday's close.

BMO Capital Markets is the left physical bookrunner. Barclays and Goldman Sachs & Co. are the joint physical bookrunners. Capital One and SunTrust Robinson Humphrey Inc. are the joint bookrunners.

ING, Johnson Rice & Co., KeyBanc Capital Markets, ABN Amro, Comerica, Fifth Third, Coker & Palmer, Northland, Petrie, Seaport Global, Imperial Capital and KLR are the co-managers.

The Rule 144A for life notes become callable after three years at par plus 75% of the coupon. They feature a three-year 35% equity clawback at par plus the coupon and a 101% poison put.

The Denver-based oil and gas company plans to use the proceeds to redeem its 8½% senior notes due 2020 and for general corporate purposes.

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