Monday, Permian Resources Corp. (PR) revealed that its subsidiary, Permian Resources Operating, LLC, plans to conduct a private placement of senior unsecured notes amounting to $750 million, due 2033.
The company said that the issuance of these notes will depend on market conditions. The notes will be guaranteed on a senior unsecured basis by Permian Resources and all subsidiaries of the Issuer that guarantees its obligations under the senior secured credit facility.
Concurrently, the company has initiated a tender offer to acquire all outstanding 7.75% Senior Notes due in 2026.
The net proceeds from this offering will be allocated to purchasing the outstanding 2026 Notes through the tender offer; funding the redemption of any remaining 2026 Notes, partially financing the acquisition of assets from Occidental Petroleum affiliates; and repaying a portion of the existing credit facility debt.
The company stated that this offering is not registered under the Securities Act and is exclusively available to qualified institutional buyers and non-U.S. persons.
For comments and feedback contact: editorial@rttnews.com
Business News
May 08, 2026 15:50 ET Manufacturing and services sector survey results and labor market data from main economies were the highlight on the economics news front this week. Factory orders and jobs report dominated the news flow in the U.S. Similarly, industrial production data from German garnered attention in Europe. In Asia, purchasing managers’ survey results from China and the central bank decision from Australia were in focus.