S&P Cuts Halcón Resources (HK) to 'SD' Following Debt Exchange Deal
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Halcón Resources Announces Debt Exchanges and Discloses Receipt of Continued Listing Standard Notice from NYSE
August 27, 2015 7:28 PM EDTHOUSTON, TEXAS, Aug. 27, 2015 (GLOBE NEWSWIRE) -- Halcón Resources Corporation (NYSE: HK) (Halcón or the Company) today announced that it has entered into privately negotiated exchange agreements with certain holders of its outstanding unsecured debt securities as part of its efforts to deleverage the Companys balance sheet.
Halcón has agreed to issue approximately $1.02 billion aggregate principal amount of new 13.00% Third Lien Senior Secured Notes due 2022 (the New Notes) in exchange for approximately $1.57 billion aggregate principal amount of its outstanding unsecured debt securities (the Existing Notes) as follows:
$497.2 million of its 9.75% Senior Unsecured Notes due... More