Diamondback Energy Prices Offering of Senior Notes
Investing.com
Published Apr 09, 2024 21:38
MIDLAND, Texas, April 09, 2024 (GLOBE NEWSWIRE) -- Diamondback (NASDAQ:FANG) Energy, Inc. (NASDAQ: FANG) (Diamondback) announced today that it has priced an offering (the Notes Offering) of $850,000,000 in aggregate principal amount of 5.200% senior notes that will mature on April 18, 2027 (the 2027 Notes), $850,000,000 in aggregate principal amount of 5.150% senior notes that will mature on January 30, 2030 (the 2030 Notes), $1,300,000,000 in aggregate principal amount of 5.400% senior notes that will mature on April 18, 2034 (the 2034 Notes), $1,500,000,000 in aggregate principal amount of 5.750% senior notes that will mature on April 18, 2054 (the 2054 Notes) and $1,000,000,000 in aggregate principal amount of 5.900% senior notes that will mature on April 18, 2064 (the 2064 Notes and, together with the 2027 Notes, the 2030 Notes, the 2034 Notes and the 2054 Notes, the Notes).
The price to the public is 99.956% of the principal amount for the 2027 Notes, 99.830% of the principal amount for the 2030 Notes, 99.679% of the principal amount for the 2034 Notes, 99.957% of the principal amount for the 2054 Notes and 99.954% of the principal amount for the 2064 Notes.
Diamondback intends to use the net proceeds from the Notes Offering for general corporate purposes, including, without limitation, paying a portion of the cash consideration for the pending acquisition of Endeavor Parent, LLC (Endeavor), repaying certain debt of Endeavor and/or its subsidiaries and paying fees and expenses related thereto. The Notes Offering is expected to close on April 18, 2024, subject to customary closing conditions.
The Notes will be sold in a registered offering pursuant to an effective shelf registration statement on Form S-3ASR that was previously filed with the Securities and Exchange Commission, a prospectus supplement and related base prospectus for the Notes Offering.
Citigroup Global Markets Inc., BofA Securities, Inc. and TD Securities (USA) LLC have served as joint book-running managers for the Notes Offering. When available, copies of the prospectus supplement and related base prospectus for the Notes Offering may be obtained from Citigroup Global Markets Inc. c/o Broadridge Financial Solutions (NYSE:BR) at 1155 Long Island Avenue, Edgewood, New York 11717, prospectus@citi.com and toll free at 1-800-831-9146; BofA Securities, Inc., NC1-022-02-25, 201 North Tryon Street, Charlotte, North Carolina 28255-0001, Attn: Prospectus Department, dg.prospectus_requests@bofa.com and toll free at 1-800-294-1322; and TD Securities (USA) LLC toll free at 1-855-495-9846. Electronic copies of the prospectus supplement and related base prospectus for the Notes Offering will also be available on the website of the Securities and Exchange Commission at http://www.sec.gov . Diamondback undertakes no obligation to update or revise any forward-looking statement.
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Investor Contact: Adam Lawlis+1 432.221.7467alawlis@diamondbackenergy.com
Source: Diamondback Energy, Inc.
Source: Diamondback Energy, Inc.Written By: Investing.com
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