Petrohawk accepts tenders for $124.236 million 9 7/8% notes due 2011

By Jennifer Chiou

New York, July 17 - Petrohawk Energy Corp. obtained and accepted tenders from holders of $124.236 million or 99.8% of its $124.9 million of 9 7/8% senior notes due 2011, according to an 8-K filing with the Securities and Exchange Commission.

The company said it entered into a second supplemental indenture to the notes.

The tender offer expired at 5 p.m. ET on July 10.

For each $1,000 principal amount, Petrohawk said it paid $1,119.90, a payout determined on the basis of a yield to April 1, 2008 of the 4 5/8% Treasury due March 31, 2008 and 50 basis points. The payout includes a $30.00 consent payment for those who tendered by the 5 p.m. ET on June 22 consent date.

The reference yield and the tender offer yield were 5.262%.

The company said it also paid accrued interest up to the payment date.

The company solicited consents for proposed amendments to the note indenture, eliminating all of the restrictive covenants, certain events of default and related provisions.

Credit Suisse Securities (USA) LLC is the dealer manager and solicitation agent (800 820-1653 or call collect 212 538-0652). Computershare Trust Co., NA is the depositary and Georgeson Shareholder Communications, Inc. is the information agent (800 279-7074 or call collect 212 440-9800).

The Houston independent oil and gas company added that the tender offer and consent solicitation were in anticipation of its previously announced merger with KCS Energy, Inc.

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