Diamondback Energy announced the commencement of tender offers to purchase for cash any and all of its outstanding 4.400% Senior Notes due 2051 and 4.250% Senior Notes due 2052, totaling approximately $991.67 million in aggregate principal amount.
Key takeaways
Diamondback is conducting tender offers for two series of Senior Notes with a combined aggregate principal amount outstanding of approximately $991.67 million.
The Offers expire at 5:00 p.m., New York City time, on April 10, 2026, unless extended or terminated.
The consideration for the Notes will be determined based on a fixed spread of 80 bps over the yield of the 4.625% UST due 2055.
The settlement date for the Offers is expected to be April 13, 2026, the first business day after the Expiration Date.
TD Securities, BofA Securities, Citigroup, and Wells Fargo Securities are acting as dealer managers for the Offers.