Eclipse Resources sets roadshow for $650 million eight-year notes

By Paul A. Harris

Portland, Ore., June 12 – Eclipse Resources Corp. plans to market a $650 million offering of eight-year senior notes during the week ahead, according to a market source.

An investor call is scheduled to take place on Tuesday.

Deutsche Bank Securities Inc., BMO Securities, Goldman Sachs & Co., Citigroup Global Markets Inc., Morgan Stanley & Co. LLC, KeyBanc Capital Markets. Capital One South Coast, RBC Capital Markets and Wells Fargo Securities LLC are the joint bookrunners.

Barclays, Global Hunter, Scotia Capital and Johnson are the co-managers.

The Rule 144A and Regulation S with registration rights notes come with three years of call protection and feature a three-year 35% equity clawback.

The State College, Pa.-based independent oil and gas exploration and production company plans to use the proceeds to finance the redemption of its outstanding 12% senior PIK notes, as well as to fund its capital expenditure plan and for general corporate purposes.

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