Vital Energy to price $100 million tap of 7 7/8% notes due 2032 in drive-by; early guidance 100.5

By Abigail W. Adams

Portland, Me., April 1 – Vital Energy Inc. plans to price a $100 million tap of its 7 7/8% senior notes due April 15, 2032 (B2/B) in a Monday drive-by with early guidance for a reoffer price of 100.5, according to a market source.

The add-on is immediately fungible to the outstanding issue.

BofA Securities Inc. (lead left), Wells Fargo Securities LLC, Citigroup Global Markets Inc. and PNC Capital Markets LLC are active bookrunners for the Rule 144A and Regulation S offering.

Truist Securities Inc., Mizuho Securities USA Inc., KeyBanc Capital Markets Inc., U.S. Bancorp Investments Inc. and Capital One Securities Inc. are also bookrunners.

Proceeds will be used to repay debt, including the company’s tender offers and for general corporate purposes.

Vital Energy is a Tulsa, Okla.-based energy producer.

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