Summary
Diamondback Energy, Inc. (FANG) has filed an 8-K report on December 13, 2022, to announce the completion of its underwritten public offering of $650 million aggregate principal amount of 6.250% Notes due 2053. This issuance, referred to as the New Notes Offering, was made under a shelf registration statement previously filed with the SEC. The New Notes are general unsecured senior obligations of the company, ranking equally with existing senior indebtedness and senior to subordinated debt. They are guaranteed on a senior unsecured basis by Diamondback E&P LLC.
Key Highlights
- 1Completion of a $650 million public offering of 6.250% Notes due 2053 (the "New Notes").
- 2The New Notes were issued on December 13, 2022.
- 3The offering was conducted under a previously filed shelf registration statement.
- 4The New Notes are general unsecured senior obligations of Diamondback Energy.
- 5The New Notes rank equally with existing and future senior indebtedness of the company.
- 6Diamondback E&P LLC provides a full and unconditional senior unsecured guarantee for the New Notes.
- 7The Indenture includes customary covenants related to liens and mergers/consolidations.