Finance & Investing | Fundraising | Capital Markets
Matador Prices $400 Million Senior Note Offering
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Matador Resources Company has priced a private offering of $400 million of 6.875% senior unsecured notes due 2023. The notes will be issued at par. Matador increased the size of the offering from the previously announced $350 million to $400 million. The offering is expected to close on April 14, 2015, subject to customary closing conditions.
Matador intends to use the net proceeds from the offering primarily to repay a portion of the outstanding borrowings under its revolving credit facility and the debt assumed in connection with the merger of Harvey E. Yates Company with and into Matador’s wholly-owned subsidiary, to fund a portion of its future capital expenditures and for other general working capital needs.