Harbour Energy starts roadshow for $500 million five-year notes; guidance low-to-mid 5% area

By Paul A. Harris

Portland, Ore., Oct. 4 – Harbour Energy plc started a roadshow on Monday for a $500 million offering of senior notes (BB-/BB), according to market sources.

Initial guidance has the Rule 144A and Regulation S notes coming to yield in the low-to-mid 5% area.

The deal is expected to price this week.

JPMorgan is the lead.

The notes come with two years of call protection.

The London-based oil and gas company plans to use the proceeds to pay off its Shell junior facility and repay cash drawn under the senior secured reserves-based lending facility.

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