HOUSTON, April 18, 2013 (GLOBE NEWSWIRE) -- Rosetta Resources Inc. (Nasdaq:ROSE) (the "Company") announced today the pricing of its public offering of $700 million in aggregate principal amount of 5.625% Senior Notes due 2021. The notes were priced at par. The sale of the notes is expected to settle on May 2, 2013, subject to the satisfaction of customary closing conditions.
The Company intends to use all of the net proceeds from the proposed notes offering to fund a portion of the consideration for its previously announced acquisition of oil and natural gas assets in the Permian Basin from Comstock Resources, Inc. (the "Acquisition"). If the Acquisition is not consummated by July 15, 2013, or if the purchase and sale agreement is terminated at any time prior to the consummation of the Acquisition, the Company will be required to redeem all of the notes in cash at a redemption price equal to 100% of the aggregate principal amount of the notes, plus accrued and unpaid interest to the date of redemption.
J.P. Morgan, Morgan Stanley and Wells Fargo Securities are acting as joint book-running managers of the offering. The offering is being made only by means of a prospectus supplement and accompanying base prospectus, copies of which may be obtained by contacting J.P. Morgan at 383 Madison Avenue, 3rd Floor, New York, New York 10179, Attention: Syndicate Desk, or by calling (800) 245-8812; Morgan Stanley at 180 Varick Street, Second Floor, New York, New York 10014, Attention: Prospectus Department, or by calling (866) 718-1649 or by emailing prospectus@morganstanley.com; or Wells Fargo Securities at the following number: (800) 326-5897 or by e-mailing cmclientsupport@wellsfargo.com.
When available, an electronic copy of the prospectus supplement and accompanying base prospectus may also be obtained at no charge at the Securities and Exchange Commission's website at http://www.sec.gov.
This press release does not constitute an offer to sell or the solicitation of an offer to buy, nor shall there be any sale of these securities in any state or jurisdiction in which such offer, solicitation or sale would be unlawful. The offering is being made pursuant to an effective registration statement on Form S-3 previously filed by the Company with the Securities and Exchange Commission.
Rosetta Resources Inc. is an independent exploration and production company engaged in the acquisition and development of onshore energy resources in the United States of America. The Company holds a leading position in the Eagle Ford area in South Texas, one of the nation's largest unconventional resource plays. The Company is based in Houston, Texas.
Forward-Looking Statements
This press release includes forward-looking statements, which give the Company's current expectations or forecasts of future events based on currently available information. Forward-looking statements are statements that are not historical facts, such as expectations regarding the closing of the notes offering and the completion of the proposed Acquisition. The assumptions of management and the future performance of the Company are subject to a wide range of business risks and uncertainties, including the risk that the Acquisition may not close, and there is no assurance that these statements and projections will be met. Factors that could affect the Company's business include those detailed in the Company's most recent Form 10-K and other filings with the Securities and Exchange Commission. If one or more of these risks or uncertainties materialize (or the consequences of such a development changes), or should underlying assumptions prove incorrect, actual outcomes may vary materially from those forecasted or expected. The Company undertakes no obligation to publicly update or revise any forward-looking statements except as required by law.