Resolute Energy Corporation Announces Closing of $75 Million Additional Senior Notes Offering
09 Avril 2018 - 4:16PM
Resolute Energy Corporation (“Resolute” or the “Company”)
(NYSE:REN) announced today that it has closed its previously
announced private offering of $75 million in aggregate principal
amount of its 8.50% Senior Notes due 2020 (the “Senior Notes”). The
Senior Notes have identical terms, other than the issue date, the
issue price and the first interest payment date, and constitute
part of the same series 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 Company intends to
launch an exchange offer for the Senior Notes. After consummation
of that exchange offer, but not before, the Senior Notes will be
fungible with, and have the same CUSIP or ISIN numbers as, the
Existing 8.50% Senior Notes. The Senior Notes are general unsecured
obligations of the Company and guaranteed on a senior unsecured
basis by the Company’s existing subsidiaries.
The net proceeds of the offering, after reflecting initial
purchaser discounts and commissions, and estimated offering
expenses, were approximately $74 million. 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 were 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
Relations Resolute Energy Corporation303-534-4600, extension
1555hbjuengling@resoluteenergy.com
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