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Diamondback Energy offers senior notes due 2052
Chicago, March 3 – Diamondback Energy Inc. is offering a single tranche of fixed-rate senior notes due 2052, according to a 424B5 filing with the Securities and Exchange Commission on Thursday morning.
The notes will be guaranteed by Diamondback E&P LLC.
The notes will be optionally redeemable with a make-whole redemption premium until a number of months before the maturity date.
Joint bookrunners for the deal are Morgan Stanley & Co. LLC, RBC Capital Markets, LLC and TD Securities (USA) LLC.
Computershare Trust Co., NA is the trustee.
Akin Gump Strauss Hauer & Feld LLP is working as counsel to the issuer. Latham & Watkins LLP is advising the bookrunners.
Proceeds will be used to redeem the company’s $500 million outstanding 4.75% senior notes and its $1 billion outstanding 2.875% senior notes, with some of the redemption price for the 2.875% notes funded with cash on hand.
Diamondback is a Midland, Tex., oil and natural gas company.
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