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Petrohawk prices private offering of $500M in notes



By AP
09 May 2008 @ 10:56 am EST

HOUSTON - Natural-gas and oil producer Petrohawk Energy Corp. said Friday it priced a private offering of $500 million in senior notes.

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The notes carry a rate of 7.875 percent and come due 2015.

Petrohawk plans to use the proceeds to refinance existing debt and fund its 2008 capital budget and acquisitions. The offering is expected to close Tuesday.

Petrohawk shares fell 31 cents to $26.33 in morning trading.

Copyright 2008 The Associated Press. All rights reserved. This material may not be published, broadcast, rewritten or redistributed.

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