HOUSTON–(BUSINESS WIRE)–WildHorse Resource Development Corporation (NYSE: WRD) announced today the pricing of its previously announced private placement to eligible purchasers of $200 million in aggregate principal amount of its 6.875% Senior Notes due 2025 at an issue price of 102.00% of par. The senior notes are being offered as additional notes to the $500 million aggregate principal amount of 6.875% Senior Notes due 2025 that WRD previously issued on February 1, 2017 and September 19, 2017. The additional senior notes and the senior notes issued on February 1, 2017 and September 19, 2017 will be treated under the Indenture as a single class of debt securities and will have identical terms, but until the additional senior notes are exchanged for registered senior notes, the additional senior notes will trade under a different CUSIP number. The offering is expected to close on April 20, 2018, subject to customary closing conditions.
WRD intends to use the net proceeds from the proposed offering to repay the borrowings outstanding under its revolving credit facility and for general corporate purposes.
The securities to be offered have not been registered under the Securities Act of 1933, as amended (the “Securities Act”), or any state securities laws and, unless so registered, the securities may not be offered or sold in the United States except pursuant to an exemption from, or in a transaction not subject to, the registration requirements of the Securities Act and applicable state securities laws. The notes are expected to be eligible for trading by qualified institutional buyers under Rule 144A and outside the United States pursuant to Regulation S.
This press release is being issued pursuant to Rule 135c under the Securities Act, and is neither an offer to sell nor a solicitation of an offer to buy the notes or any other securities and shall not constitute an offer to sell or a solicitation of an offer to buy, or a sale of, the notes or any other securities in any jurisdiction in which such offer, solicitation or sale is unlawful.
About WildHorse Resource Development
WildHorse Resource Development Corporation is an independent oil and natural gas company focused on the acquisition, exploration, development and production of oil, natural gas and NGL properties primarily in the Eagle Ford Shale and Austin Chalk in East Texas.