The deal wipes out about $1.8 billion in debt and $200 million in annual interest expenses for Halcon, leaving the Houston independent with $1.1 billion in total debt and a $600 million credit facility from which it has drawn $304 million.
Those debts are in the form of senior secured notes carrying interest rates between 8.63% and 13% that are due between 2020 and 2022.
Under
