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Chord Energy Corporation Announces $750 Million Offering of Senior Notes
HOUSTON, Texas, March 3, 2025 /PRNewswire/ -- Chord Energy Corporation (NASDAQ: CHRD) (the "Company," "we," "us," or "our"), announced today that, subject to
About this update from Chord Energy Corporation
[{"type":"text","content":"HOUSTON, Texas, March 3, 2025 /PRNewswire/ -- Chord Energy Corporation (NASDAQ: CHRD) (the \"Company,\" \"we,\" \"us,\" or \"our\"), announced today that, subject to market conditions, it intends to offer $750 million in aggregate principal amount of senior unsecured notes due 2033 (the \"New Notes\") in a private placement to eligible purchasers (the \"Notes Offering\"). The New Notes will be unsecured, senior obligations of the Company and will be guaranteed by the Company's existing subsidiaries and future domestic subsidiaries that, in each case, guarantee the Company's senior secured revolving credit facility (the \"Credit Facility\").\n\n \n \n \n \n \n \n\n \nThe Company intends to use the net proceeds from the Notes Offering for purposes of (i) financing its concurrent cash tender offer (the \"Tender Offer\") for any and all of its outstanding 6.375% senior unsecured notes due 2026 (the \"2026 Notes\") that are validly tendered and accepted for purchase in the Tender Offer, (ii) redeem any 2026 Notes, to the extent any 2026 Notes remain outstanding following the Tender Offer, on or about June 1, 2025 at a redemption price of 100.000% of the principal amount thereof, plus accrued and unpaid interest, if any, to the redemption date, (iii) repay a portion of its borrowings outstanding under the Company's Credit Facility, and (iv) pay all fees and expenses associated therewith. The final terms and amounts of the New Notes are subject to market and other conditions and may be materially different than expectations. The Notes Offering is not conditioned on the Tender Offer, but the Tender Offer is conditioned on the Notes Offering.\nThe New Notes have not been registered under the Securities Act of 1933, as amended (the \"Securities Act\"), or any state securities laws and unless so registered, the notes may not be offered or sold in the United States absent an applicable exemption from, or a transaction not subject to, registration requirements of the Securities Act and applicable state securities laws. The New Notes are being offered and sold only to persons reasonably believed to be qualified institutional buyers pursuant to Rule 144A under the Securities Act and to non-U.S. persons outside the United States pursuant to Regulation S under the Securities Act.\nThis press release is being issued pursuant to Rule 135c under th...