Petrohawk starts change-of-control offer for its 7 7/8%, 10½% notes

By Jennifer Chiou

New York, Sept. 21 - Petrohawk Energy Corp. said it launched its mandatory offer to purchase any and all of its $600 million of 10½% senior notes due 2014 and $800 million of 7 7/8% senior notes due 2015.

As already announced, BHP Billiton Ltd.'s acquisition of the company resulted in a change of control. As a result, the company must make the purchase offer at a price of 101% of par plus accrued interest.

As reported, BHP wrapped its offer to acquire all of Petrohawk's shares for $38.75 each at midnight ET on Aug. 19. According to the depositary, 293.9 million shares, or 97.4% of the total amount, were validly tendered.

The tender will end at 5 p.m. ET on Nov. 9. The settlement date is slated for Nov. 15.

The announcement of the requirement for the offer was made on Aug. 24.

The depositary and information agent is U.S. Bank Trust NA (attn: Lori Buckles at 651 495-3520).

Petrohawk is a Houston-based explorer, developer and producer of oil and natural gas properties. BHP is a London-based company focused on discovering and developing natural resources.

© 2015 Prospect News.
All content on this website is protected by copyright law in the U.S. and elsewhere. For the use of the person downloading only.
Redistribution and copying are prohibited by law without written permission in advance from Prospect News.
Redistribution or copying includes e-mailing, printing multiple copies or any other form of reproduction.