Diamondback Energy raises $750M through debt offering
Mar. 04, 2022 7:43 AM ETDiamondback Energy, Inc. (FANG)By: Niloofer Shaikh, SA News Editor1 Comment
- Diamondback Energy (NASDAQ:FANG) has priced $750M of 4.250% senior notes due on March 15, 2052 at 99.714% of the principal amount.
- Net proceeds will be used to fund the redemption of all of company’s outstanding 4.750% senior notes due 2025.
- Remaining net proceeds along with cash on hand will be used to fund the redemption of all the outstanding 2.875% senior notes due 2024.
- Offering is expected to close on March 17, 2022.
- The redemptions of the 2024 and the 2025 notes are each conditional upon the closing of the notes offering and receipt of net proceeds, combined with cash on hand, that is sufficient to redeem the notes in full.
- Since the start of 2022, stock has grown 24%.
- Read the most recent analysis on stock.