WildHorse starts roadshow for $300 million eight-year senior notes

By Paul A. Harris

Portland, Ore., Jan. 23 – WildHorse Resource Development Corp. began a roadshow on Monday in New York for a $300 million offering of eight-year senior notes (Caa1/B), according to a syndicate source.

An investor conference call is scheduled for 12:30 p.m. ET on Tuesday.

The Rule 144A and Regulation S with registration rights offering is expected to price on Friday.

Wells Fargo Securities LLC is the left bookrunner. BMO Securities, Barclays, BofA Merrill Lynch, Citigroup Global Markets Inc. and J.P. Morgan Securities LLC are the joint bookrunners.

BOK Financial, Capital One, Comerica Securities, ING and Raymond James are the co-managers.

The notes become callable after three years at par plus 75% of the coupon.

The Houston-based independent oil and natural gas company plans to use the proceeds to repay the outstanding balance under its senior secured revolving credit facility and for general corporate purposes, including 2017 capital expenditures.

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