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CHORD ENERGY CORPORATION ANNOUNCES A CASH TENDER OFFER FOR ANY AND ALL OF ITS OUTSTANDING 6.375% SENIOR NOTES DUE 2026
HOUSTON, Texas, March 3, 2025 /PRNewswire/ -- Chord Energy Corporation (NASDAQ: CHRD) (the "Company," "we," "us," or "our"), today announced that it has
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\"), today announced that it has commenced a cash tender offer to purchase (the \"Offer\") any and all of its outstanding 6.375% senior notes due 2026 (the \"2026 Notes\") as set forth in the table below.\n\n \n \n \n \n \n \n\n \nSeries of Notes\nCUSIPNumbers(1) \nAggregate Principal AmountOutstanding\nU.S. TreasuryReference Security(2) \nBloombergReference Page(2)\nFixed Spread(basis points)(2) \n6.375% SeniorNotes due 2026\n674215AL2/U65204AD8\n$400,000,000\n4.250% U.S.\nTreasury due\nMay 31, 2025\nFIT3\n50 bps\n(1)\nNo representation is made as to the correctness or accuracy of the CUSIP numbers listed in this press release or printed on the 2026 Notes. It is provided solely for the convenience of Holders of the 2026 Notes.\n(2)\nThe consideration (the \"Consideration\") payable per $1,000 principal amount of 2026 Notes validly tendered and accepted for purchase will be based on the fixed spread specified in the table above (the \"Fixed Spread\"), plus the yield to maturity of the U.S. Treasury Reference Security (the \"Reference Yield\") based on the bid-side price of the U.S. Treasury Reference Security specified above (the \"Reference Page\") at 10:00 a.m., New York City time, on March 10, 2025 (such date as it may be extended, the \"Price Determination Date\"). The sum of the Fixed Spread and the Reference Yield is referred to as the \"Repurchase Yield.\" The Consideration does not include Accrued Interest (as defined in the Offer to Purchase), which will be paid on 2026 Notes accepted for purchase by the Company as described in the Offer to Purchase. The formula for determining the Consideration and Accrued Interest is set forth on Annex A of the Offer to Purchase (as defined below).\nThe Offer is being made solely pursuant to the terms and conditions set forth in an Offer to Purchase, dated March 3, 2025 (the \"Offer to Purchase\"). Holders of the 2026 Notes are urged to carefully read the Offer to Purchase before making any decision with respect to the Offer. There is no letter of transmittal for the Offer. The Offer is not conditioned on any minimum amount of the 2026 Notes being tendered. Subject to applicable law, the Company may amend, extend or terminate the Offer in its sole discretion....