Resolute Energy Corporation Announces $75 Million Additional Senior Notes Offering
05 Avril 2018 - 1:46PM
Resolute Energy Corporation (“Resolute” or the “Company”)
(NYSE:REN) announced today that it has launched a private offering
that is exempt from the registration requirements of the Securities
Act of 1933, as amended (the “Securities Act”), for $75 million in
aggregate principal amount of its 8.50% Senior Notes due 2020 (the
“Senior Notes”). The Senior Notes will be issued under the same
indenture as the $525 million aggregate principal amount of the
Company’s 8.50% Senior Notes due 2020 previously issued (the
“Existing 8.50% Senior Notes”). The Senior Notes will have
identical terms, other than the issue date, the issue price and the
first interest payment date, and will constitute part of the same
series as the Existing 8.50% Senior Notes. The Company intends to
launch an exchange offer for the Senior Notes. The Senior Notes
will be general unsecured obligations of the Company and guaranteed
on a senior unsecured basis by the Company’s existing subsidiaries.
Resolute intends to use a portion of the net proceeds from the
offering to repay the borrowings currently outstanding under its
senior credit facility. The remainder of the net proceeds will be
used for general corporate purposes, including capital expenditures
related to the Company’s previously announced 2018 plan.
The Senior Notes and the related guarantees will be offered only
to persons reasonably believed to be qualified institutional buyers
in reliance on the exemption from registration set forth in Rule
144A under the Securities Act, and outside the United States to
non-U.S. persons in reliance on the exemption from registration set
forth in Regulation S under the Securities Act. The Senior Notes
and the related guarantees have not been registered under the
Securities Act or the securities laws of any state or other
jurisdiction, and the Senior Notes may not be offered or sold in
the United States without registration or an applicable exemption
from the registration requirements of the Securities Act and
applicable state securities or blue sky laws and foreign securities
laws.
This press release shall not constitute an offer to sell, or the
solicitation of an offer to buy any securities, nor shall there be
any sales of securities in any jurisdiction in which such offer,
solicitation or sale would be unlawful prior to registration or
qualification under the securities laws of any such jurisdiction.
This notice is being issued pursuant to and in accordance with Rule
135(c) under the Securities Act.
Cautionary Statements
The statements in this press release relating to the use of
proceeds from the offering are “forward-looking statements” within
the meaning of the safe harbor provisions of the United States
Private Securities Litigation Reform Act of 1995. Resolute
undertakes no obligation and does not intend to update these
forward-looking statements to reflect events or circumstances
occurring after the date of this press release. You are cautioned
not to place undue reliance on these forward-looking statements,
which speak only as of the date of this press release. All
forward-looking statements are qualified in their entirety by this
cautionary statement.
About Resolute Energy Corporation
Resolute is an independent oil and gas company focused on the
acquisition and development of unconventional oil and gas
properties in the Delaware Basin portion of the Permian Basin of
west Texas. The Company’s common stock is traded on the NYSE under
the ticker symbol “REN.”
Contact:HB JuenglingVice President - Investor
RelationsResolute Energy Corporation303-534-4600, extension
1555hbjuengling@resoluteenergy.com
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