Landbridge Company LLC (NYSE: LB; NYSE Texas: LB) has announced its intention to offer $500 million in aggregate principal amount of senior notes in a private placement to eligible purchasers. The company plans to use the net proceeds from the offering of the notes, along with borrowings under its new credit facility, to repay all outstanding borrowings under, and terminate, its existing credit facility.
The notes to be offered have not been registered under the Securities Act of 1933, as amended, or any state securities laws. They will be offered only to qualified institutional buyers in reliance on Rule 144A under the Securities Act and outside the United States pursuant to Regulation S under the Securities Act.
Landbridge, which owns more than 300,000 surface acres across Texas and New Mexico, primarily in the heart of the Delaware sub-region in the Permian Basin, actively manages its land and resources to support and encourage energy and infrastructure development, including digital infrastructure. The company was formed by Five Point Infrastructure LLC, a private equity firm with a track record of investing in and developing energy, environmental water management, and sustainable infrastructure companies within the Permian Basin. Today the company's shares have moved 0.21% to a price of $62.01. If you want to know more, read the company's complete 8-K report here.
