Hornbeck Offshore to raise $237 million

Hornbeck Offshore Services, Inc. (NYSE: HOS) announced today that it has agreed to sell $250,000,000 aggregate principal amount of its 8.000% Senior Notes due 2017 in a private placement pursuant to Rule 144A under the Securities Act of 1933, as amended (the "Securities Act"). This represents a $50.0 million increase from the aggregate transaction size announced August 12, 2009. The closing is expected to occur August 17, 2009, subject to customary closing conditions.

The company intends to use the net proceeds of approximately $237.3 million from the sale of the Senior Notes, after deducting discounts, commissions and estimated expenses, 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. Because 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.