Diamondback Energy, Inc. (NASDAQ: FANG) has priced an offering of senior notes totaling $5.5 billion. The notes include 5.200% senior notes maturing on April 18, 2027, 5.150% senior notes maturing on January 30, 2030, 5.400% senior notes maturing on April 18, 2034, 5.750% senior notes maturing on April 18, 2054, and 5.900% senior notes maturing on April 18, 2064.
The price to the public is 99.956% of the principal amount for the 2027 notes, 99.830% for the 2030 notes, 99.679% for the 2034 notes, 99.957% for the 2054 notes, and 99.954% for the 2064 notes.
Diamondback intends to use the net proceeds for general corporate purposes, including the pending acquisition of Endeavor Parent, LLC ("Endeavor"), repayment of certain debt of Endeavor and/or its subsidiaries, and paying related fees and expenses.
It's noteworthy that the notes offering is expected to close on April 18, 2024, subject to customary closing conditions.
The offering is being managed by Citigroup Global Markets Inc., BofA Securities, Inc., and TD Securities (USA) LLC.
Diamondback Energy, Inc. is an independent oil and natural gas company focused on the acquisition, development, exploration, and exploitation of unconventional, onshore oil and natural gas reserves in the Permian Basin in West Texas. As a result of these announcements, the company's shares have moved 1.0% on the market, and are now trading at a price of $208.26. For the full picture, make sure to review Diamondback Energy's 8-K report.
