Petrohawk tenders for 9 7/8% notes due 2011

By Jennifer Chiou

New York, June 8 - Petrohawk Energy Corp. started a cash tender offer for any and all of its $124.9 million of 9 7/8% senior notes due 2011.

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

The tender offer expires at 5 p.m. ET on July 7.

For each $1,000 principal amount, Petrohawk said its payout will be 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 tender by the 5 p.m. ET on June 21 consent date.

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

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 are in anticipation of its previously announced merger with KCS Energy, Inc.

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