Diamondback Energy is offering senior notes totaling, in the aggregate, $5.5 billion as the company looks to pay for part of its $26 billion merger with Endeavor Energy.
The senior notes vary in price, maturity dates and interest rates. The notes interest rates range from 5.15% to 5.9% and mature between 2027 and 2064.
For the 2027 notes, the price to the public is 99.956% of the principal amount; for the 2030 notes, 99.830% of the principal amount; for the 2034 notes, 99.679% of the principal amount; for the 2054 notes, 99.957% of the principal amount; and for the 2064 notes, 99.954% of the principal amount.
Diamondback said it intends to use the net proceeds from the offer for general corporate purposes, including, paying a portion of the cash consideration for the pending acquisition of Endeavor and repaying debt owed by Endeavor and/or its subsidiaries.
The notes offering is expected to close on April 18, subject to customary closing conditions.
Citigroup Global Markets Inc., BofA Securities, Inc. and TD Securities (USA) LLC have served as joint book-running managers for the notes offering.
Recommended Reading
‘Oversupplied’ NatGas Market Aiding Williams’ Storage Business
2024-05-08 - Midstream company Williams saw overall demand growth as heavy gas volumes passed through its network.
Tallgrass Declares Open Season for CO2 Transport Pipeline
2024-05-06 - Tallgrass Energy’s Trailblazer project, originally a natural gas pipeline, would move greenhouse gas from Nebraska and Colorado and store it in geological formations in Wyoming.
Targa Expects Another Major Permian Pipeline Project This Year
2024-05-03 - Targa Resources says different projects are falling in place for gas capacity expansion
US Appeals Court Upholds FERC Approvals for Gas Pipeline Expansion
2024-05-02 - A unanimous three-judge panel of the U.S. Circuit Court of Appeals for the D.C. Circuit held that the Federal Energy Regulatory Commission was right to determine the Evangeline Pass Expansion project is functionally separate from four related gas infrastructure developments.
Enterprise Targets FID for SPOT Project by End of 2024
2024-05-01 - Enterprise Products Partners’ co-CEO disputed capex figures reported in the media regarding its Sea Port Oil Export Terminal.