Add to balance / Manage account | User: | Log out |
Prospect News home > News index > List of issuers V > Headlines for Vital Energy Inc. > News item |
Vital Energy to issue clean-up call for remaining 2028 notes
By Mary-Katherine Stinson
Lexington, Ky., March 28 – Vital Energy, Inc. issued a clean-up call for all its outstanding 10 1/8% senior notes due 2028 (Cusip: 516806AG1) that are not purchased by the expiration of the company’s current tender offer, according to a company news release.
Any remaining outstanding notes will be redeemed around April 29 at 105.063 plus accrued interest.
At the launch of the tender offer on March 14, the company initially offered to purchase up to $475 million of its $700,309,000 outstanding 2028 notes and up to $75 million of its $500 million outstanding 9¾% senior notes due 2030 (Cusip: 516806AJ5).
The offer was modified on March 28 to eliminate the cap on the 2028 notes, making it an any-and-all offer for that series.
The tender offers are set to expire at 5 p.m. ET on April 11.
Both the tender offers and the subsequent clean-up call of the remaining 2028 notes are to be funded by proceeds from the company’s new senior note offering.
The company priced an offering of $800 million aggregate principal amount of 7 7/8% senior notes due 2032, which is scheduled to settle on March 28.
The energy company is based in Tulsa, Okla.
© 2015 Prospect News.
All content on this website is protected by copyright law in the U.S. and elsewhere.
For the use of the person downloading only.
Redistribution and copying are prohibited by law without written permission in advance from Prospect News.
Redistribution or copying includes e-mailing, printing multiple copies or any other form of reproduction.