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Chord Energy Corporation Announces Upsizing and Pricing of $750 Million Offering of Senior Notes
Prnewswireยท 2025-09-16 19:35
Core Viewpoint - Chord Energy Corporation has announced the upsizing and pricing of its private placement of $750 million in senior unsecured notes, which will be used primarily for funding an acquisition of oil and gas assets from XTO Energy, Inc. [1][2] Group 1: Notes Offering Details - The Notes Offering has been increased from an initially planned $500 million to $750 million in aggregate principal amount, with the notes priced at par [1] - The offering is expected to close on September 30, 2025, subject to customary closing conditions [1] - The notes will be unsecured and senior obligations of the company, guaranteed by existing and future domestic subsidiaries [1] Group 2: Use of Proceeds - The net proceeds from the Notes Offering will be allocated for funding the acquisition of oil and gas assets in the Williston Basin from XTO Energy, covering related costs and expenses, and for general corporate purposes including repayment of borrowings [2] Group 3: Special Mandatory Redemption - The notes will be subject to a "special mandatory redemption" if the XTO Acquisition does not occur by June 30, 2026, with a potential extension to September 30, 2026 [3] - The redemption price will be 100% of the principal amount plus accrued interest, or 101% if the redemption trigger occurs after June 30, 2026 [3] Group 4: Company Overview - Chord Energy Corporation is an independent exploration and production company focused on sustainable long-lived assets primarily in the Williston Basin, emphasizing capital discipline and free cash flow generation [6]