Diamondback Energy offers senior notes due 2052

Chicago, March 3 – Diamondback Energy Inc. is offering a single tranche of fixed-rate senior notes due 2052, according to a 424B5 filing with the Securities and Exchange Commission on Thursday morning.

The notes will be guaranteed by Diamondback E&P LLC.

The notes will be optionally redeemable with a make-whole redemption premium until a number of months before the maturity date.

Joint bookrunners for the deal are Morgan Stanley & Co. LLC, RBC Capital Markets, LLC and TD Securities (USA) LLC.

Computershare Trust Co., NA is the trustee.

Akin Gump Strauss Hauer & Feld LLP is working as counsel to the issuer. Latham & Watkins LLP is advising the bookrunners.

Proceeds will be used to redeem the company’s $500 million outstanding 4.75% senior notes and its $1 billion outstanding 2.875% senior notes, with some of the redemption price for the 2.875% notes funded with cash on hand.

Diamondback is a Midland, Tex., oil and natural gas company.

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