Matador Resources Co. (MTDR) announced on Monday that it has set the price for a private offering of $750 million 6.250% senior unsecured notes, due 2033, at 100% of their face value.
The company intends to use the net proceeds to pay off existing borrowings under its credit facility, including $250 million from its term loan.
The company stated that the Notes and their associated guarantees are not registered under the Securities Act of 1933 and cannot be offered, transferred, or sold in the United States unless registered or exempted.
The closing of the offering is anticipated on September 25, 2024, pending standard closing conditions.
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