WildHorse Resource Development Corporation Announces Launch of $200 Million Offering of Additional 6.875% Senior Notes Due 2025
WildHorse Resource Development Corporation (NYSE: WRD) announced today
that, subject to market conditions, it intends to offer $200 million in
aggregate principal amount of its 6.875% Senior Notes due 2025. The
additional senior notes are expected to rank equally with, and be
treated under the Indenture as a single class of debt securities with,
the $500 million aggregate principal amount of the currently outstanding
6.875% Senior Notes due 2025 previously issued by WRD on February 1,
2017 and September 19, 2017, but until the additional senior notes are
exchanged for registered notes, the additional senior notes will trade
under a different CUSIP number.
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.
Cautionary Statement Concerning Forward-Looking Statements
This press release includes "forward-looking statements" within the
meaning of Section 27A of the Securities Act of 1933, as amended, and
Section 21E of the Securities Exchange Act of 1934, as amended.
Forward-looking statements can be identified by words such as
“anticipates,” “intends,” “will,” “plans,” “seeks,” “believes,”
“estimates,” “could,” “expects” and similar references to future
periods. Such forward-looking statements are subject to a number of
risks and uncertainties, many of which are beyond WRD’s control. All
statements, other than historical facts included in this press release
that address activities, events or developments that WRD expects or
anticipates will or may occur in the future are forward-looking
statements. All forward-looking statements speak only as of the date of
this press release. Although WRD believes that the plans, intentions and
expectations reflected in or suggested by the forward-looking statements
are reasonable, there is no assurance that these plans, intentions or
expectations will be achieved. Therefore, actual outcomes and results
could materially differ from what is expressed, implied or forecast in
such statements.
WRD cautions you that these forward-looking statements are subject to
risks and uncertainties, most of which are difficult to predict and many
of which are beyond WRD’s control, incident to the exploration for and
development, production, gathering and sale of natural gas and oil.
These risks include, but are not limited to: commodity price volatility;
inflation; lack of availability of drilling and production equipment and
services; environmental risks; drilling and other operating risks;
regulatory changes; the uncertainty inherent in estimating natural gas
and oil reserves and in projecting future rates of production, cash flow
and access to capital; and the timing of development expenditures.
Information concerning these and other factors can be found in WRD’s
filings with the SEC, including its Forms 10-K, 10-Q and 8-K.
Consequently, all of the forward-looking statements made in this press
release are qualified by these cautionary statements and there can be no
assurances that the actual results or developments anticipated by WRD
will be realized, or even if realized, that they will have the expected
consequences to or effects on WRD, its business or operations. WRD has
no intention, and disclaims any obligation, to update or revise any
forward-looking statements, whether as a result of new information,
future results or otherwise.
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