Matador Resources to sell $150 million tap of 6 7/8% notes due 2023; pricing Tuesday

By Paul A. Harris

Portland, Ore., Dec. 6 – Matador Resources Co. plans to price a $150 million add-on to its 6 7/8% senior notes due 2023 on Tuesday, according to a market source.

BofA Merrill Lynch has the books for the Rule 144A and Regulation S offering.

The notes become callable after April 15, 2018.

The Dallas-based independent energy company plans to use the proceeds to fund the purchase of about 4,600 net leasehold acres and 475 net mineral acres in Eddy and Lea Counties, N.M., to fund capital expenditures, to repay a revolving credit facility and for general corporate purposes, including capital expenditures associated with the addition of a fourth drilling rig.

The original $400 million issue priced at par in April 2015.

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