Diamondback Energy to repay revolver debt via add-on note proceeds

By Sarah Lizee

Olympia, Wash., Jan. 24 – Diamondback Energy, Inc. intends to repay a portion of the outstanding borrowings under its revolving credit facility using proceeds from a new offering, according to a press release.

The company said on Wednesday that it is proposing to offer a $250 million tack-on to its 5 3/8% senior notes due 2025.

Diamondback Energy is a Midland, Texas, oil and natural gas company.

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