Petrohawk Prices Senior Notes Offering
Petrohawk has priced its private placement offering to eligible purchasers of an aggregate principal amount of $600 million 10 1/2% senior notes due August 1, 2014. The notes are priced at 91.279% of the face value to yield 12 3/4% to maturity. The offering is expected to settle and close on January 27, 2009, subject to customary closing conditions.
Net proceeds from the offering will be used to repay all outstanding borrowings on Petrohawk's senior revolving credit facility, which will provide additional financial flexibility to fund a portion of its 2009 capital budget, to fund potential acquisitions, to provide for further infrastructure expansion and for general corporate purposes.
- Ex-Petrohawk CEO to Head $550M Re-Capitalized Ram Energy (Dec 22)
- BHP Billiton Completes Petrohawk Acquisition (Aug 26)
- BHP Billiton-Petrohawk Deal Gets Final Nod (Aug 18)