Resolute Energy (REN) Prices $250M Senior Notes Private Placement
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Resolute Energy Corporation (NYSE: REN) has priced its private placement of $250 million in aggregate principal amount of senior notes due 2020 ("Senior Notes"). The Senior Notes will bear interest at a rate of 8.50% per annum and will be issued at par. The offering is expected to close on April 25, 2012, subject to customary closing conditions. The Senior Notes will be general unsecured senior obligations of the Company and guaranteed on a senior unsecured basis by the Company's existing subsidiaries.
Resolute intends to use the net proceeds from the Senior Notes offering to repay indebtedness under its revolving credit facility, which matures in April 2017, and the remainder for general corporate purposes, including capital expenditures.
Resolute intends to use the net proceeds from the Senior Notes offering to repay indebtedness under its revolving credit facility, which matures in April 2017, and the remainder for general corporate purposes, including capital expenditures.
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