Parsley Energy issued the following announcement.
Announced that they have commenced, subject to market conditions and other factors, a private offering of $400 million in aggregate principal amount of senior unsecured notes due 2028 to eligible purchasers (the “Notes Offering”).
Parsley intends to use the net proceeds from the Notes Offering and borrowings under its revolving credit facility to redeem (the “Redemption”) all of the Issuers' outstanding 6.250% senior unsecured notes due 2024 (the “2024 Notes”) at a redemption price of 104.688%, plus accrued and unpaid interest to the redemption date, pursuant to the terms of
the indenture relating to the 2024 Notes. The Issuers intend to issue a conditional notice of redemption with respect to the Redemption. The Redemption will be conditioned on the
completion of the Notes Offering.
The securities to be offered in the Notes Offering have not been registered under the Securities Act of 1933, as amended (the “Securities Act”), or any state securities laws and,
unless so registered, may not be offered or sold in the United States except pursuant to an exemption from, or in a transaction not subject to, the registration requirements
of the Securities Act and applicable state securities laws. The securities will be available for resale only to qualified institutional buyers pursuant to Rule 144A under the Securities
Act and to non-U.S. persons in transactions outside the United States pursuant to Regulation S under the Securities Act.
This news release does not constitute an offer to sell or the solicitation of an offer to buy the securities described herein, nor shall there be any sale of these securities in any jurisdiction in which such an offer, solicitation or sale would be unlawful prior to registration or qualification under the securities laws of any such jurisdiction.
Original source can be found here.