logo
Share SHARE
FONT-SIZE Plus   Neg

Cimarex Energy Prices $750 Mln Of Senior Notes

Cimarex Energy Co. (XEC: Quote) said Thursday that it has priced an offering of $750 million aggregate principal amount of senior notes due 2022, which will carry an interest rate of 5.875%.

This was an increase from the company's earlier plan to offer $650 million aggregate principal amount of senior unsecured notes due 2022

The notes were sold to the public at par.

Cimarex plans to use a portion of the net proceeds from the offering to purchase any and all of the outstanding $350 million aggregate principal amount of its 7.125% Senior Notes due 2017, pursuant to a separately announced tender offer and to redeem any of such outstanding notes not acquired in the tender offer.

The company plans to use the remaining net proceeds for general corporate purposes, including repayment of amounts outstanding under its revolving credit facility.

by RTT Staff Writer

For comments and feedback: editorial@rttnews.com

Business News

Editors Pick
LEGO Group, TT Games and Warner Bros. Interactive Entertainment have announced their 2015 slate of video games, including LEGO Jurassic World, LEGO Marvel's Avengers, and as well as new hand-held and mobile titles. Social-networking giant Facebook, Inc. is said to be testing their new 'Place Tips' feature for iOS users that will rival a similar service being provided by Yelp or Foursquare. The feature will provide the user relevant content about their location as long as they are there through pop ups on their news feed page of Facebook. Disney CEO Bob Iger has confirmed that all three films in the upcoming Star Wars trilogy will be out by the end of the decade. With Episode VII set for release later this year, "Star Wars: Episode VIII" will hit theaters in 2017 and that "Star Wars: Episode IX" will arrive in 2019, according to Get...
comments powered by Disqus
RELATED NEWS
Trade XEC now with 
Follow RTT