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Diamondback Energy to tender for 7 5/8% notes due 2021 via new issue
By Susanna Moon
Chicago, Oct. 20 – Diamondback Energy, Inc. plans to tender for its 7 5/8% senior notes due 2021 using proceeds of a new issue of notes.
Diamondback plans to price $500 million principal amount of senior notes due 2024 under Rule 144A and Regulation S, according to a company announcement.
Proceeds of the issue will be used to fund the tender offer and to redeem any 7 5/8% notes that remain outstanding after the tender offer as well as for general corporate purposes.
Diamondback is an independent oil and natural gas company based in Midland, Texas.
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