Cimarex Energy to repay revolver borrowings with new note proceeds

By Marisa Wong

Morgantown, W.Va., March 6 – Cimarex Energy Co. plans to repay borrowings under its revolving credit facility using proceeds from an offering of senior notes due 2029, according to a 424B5 filing with the Securities and Exchange Commission.

As of March 5, Cimarex had about $525 million outstanding under its revolver with a weighted average interest rate of 6%. The credit facility matures in February 2024.

Remaining proceeds from the new notes will be used for general corporate purposes.

Cimarex is an oil and gas company based in Denver.

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