Centennial Resource to repay all revolver borrowings via new notes

By Marisa Wong

Morgantown, W.Va., March 12 – Centennial Resource Development, Inc. plans to repay all outstanding borrowings under its revolving credit facility using proceeds from an offering of new notes, according to a news release.

The company announced on Tuesday that it plans to offer $500 million of senior notes due 2027.

Remaining proceeds from the Rule 144A and Regulation S deal will be used for general corporate purposes.

Centennial Resource is a Denver-based oil and natural gas company with properties in the core of the Southern Delaware Basin.

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