Latest News and Analysis
Deals and Transactions
Track Drilling (Rigs by operator) | Completions (Frac Spreads)

Finance & Investing | Debt | Capital Markets

Concho Plans to Launch Public Debt Offering

emailEmail    |    printPrint    |    bookmarkBookmark
   |    Thursday,June 14,2018

Concho Resources intends to launch a public offering of senior notes due 2028 and 2048 that will result in proceeds of ~$1.654 billion.

Following the closing of the Company's acquisition of RSP Permian Inc. through an all-stock transaction, Concho intends to use the net proceeds from this offering to redeem, as previously announced, RSP's 6.625% senior notes due 2022 and 5.25% senior notes due 2025  for approximately $1.2 billion and to repay a portion of the outstanding indebtedness under RSP's existing credit facility, under which RSP had outstanding borrowings of $445 million as of March 31, 2018.

BofA Merrill Lynch, J.P. Morgan and Wells Fargo Securities will act as joint bookrunning managers for the senior unsecured notes offering.

 

 

 

 

 



Related Categories :

Debt   

More    Debt News

Permian News >>>