Diamondback Energy Prices Offering of Senior Notes
Diamondback intends to use the net proceeds from the Notes Offering to fund the redemption of all of Diamondback’s outstanding 4.750% Senior Notes due 2025 (the “2025 Notes”) at the applicable redemption price, which includes a make-whole premium and accrued and unpaid interest on the 2025 Notes. Diamondback intends to use the remaining net proceeds from the Notes Offering and cash on hand to fund the redemption of all of Diamondback’s outstanding 2.875% Senior Notes (the “2024 Notes”) at the applicable redemption price, which includes a make-whole premium and accrued and unpaid interest on the 2024 Notes. The Notes Offering is expected to close on
The redemptions of the 2024 Notes and the 2025 Notes (the “Redemptions”) are each conditional upon the closing of the Notes Offering and Diamondback’s receipt of net proceeds from the Notes Offering, combined with cash on hand, that is sufficient to redeem the 2024 Notes and the 2025 Notes in full and fund all fees and expenses associated with the redemptions and the Notes Offering. The closing of the Notes Offering is not contingent on the Redemptions.
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
Morgan Stanley & Co.
This press release is neither an offer to sell nor a solicitation of an offer to buy any of these securities and shall not constitute an offer, solicitation or sale in any jurisdiction in which such offer, solicitation or sale is unlawful. The Notes Offering may only be made by means of a prospectus supplement and related base prospectus. This press release is neither an offer to purchase nor a solicitation of an offer to sell the 2024 Notes or the 2025 Notes and shall not constitute an offer, solicitation or sale in any jurisdiction in which such offer, solicitation or sale is unlawful.
Diamondback is an independent oil and natural gas company headquartered in
Forward Looking Statements
This press release contains forward-looking statements within the meaning of the federal securities laws. All statements, other than historical facts, that address activities that Diamondback assumes, plans, expects, believes, intends or anticipates (and other similar expressions) will, should or may occur in the future are forward-looking statements. The forward-looking statements are based on management’s current beliefs, based on currently available information, as to the outcome and timing of future events. These forward-looking statements involve certain risks and uncertainties that could cause the results to differ materially from those expected by the management of Diamondback. Information concerning these risks and other factors can be found in Diamondback’s filings with the
Source: Diamondback Energy, Inc.