Hornbeck Offshore Services, USA, intends to offer approximately US$200 million aggregate principal amount of senior notes due 2017 through an offering within the United States to qualified institutional buyers pursuant to Rule 144A under the Securities Act of 1933, as amended.
A statement from Hornbeck said that the company intends to use the net proceeds from the sale of the Senior Notes to repay debt under its revolving credit facility, which may be reborrowed.
Any remaining net proceeds will be used for general corporate purposes, which may include the retirement of other debt. As the Senior Notes will not be registered under the Securities Act or applicable state securities laws, the Senior Notes may not be offered or sold in the United States absent registration or available exemption from such registration requirements.
