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Petrohawk Energy begins tender, consent solicitation for 9 1/8% notes
By Devika Patel
Knoxville, Tenn., Aug. 3 - Petrohawk Energy Corp. said it has begun a cash tender offer for all $769 million of its 9 1/8% senior notes due 2013.
The tender offer will expire at 11:59 p.m. ET on Aug. 30.
Petrohawk is soliciting consents to amend certain restrictive covenants and events of default in the notes' indenture.
Holders who tender by the consent deadline of 5 p.m. ET on Aug. 16 will be entitled to the total consideration of $1,048.13 per $1,000 in notes, which includes a $30.00 consent payment. Holders who tender after this date, but before the expiration date, will receive $1,018.13 per $1,000 in notes.
The company will also pay interest to, but excluding, the payment date.
Barclays Capital (800 438-3242 and 212 528-7581) is the dealer manager and solicitation agent.
Petrohawk is a Houston-based independent energy company.
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