SM Energy Company (SM) said Tuesday that it has priced a private offering of $400 million of 6.50 percent senior unsecured notes due 2023.
The size of the offering was increased from $300 million to $400 million by the company and these notes will be issued at the original value.
SM Energy said that it plans to use the net proceeds from the offering to repay outstanding borrowings under its credit facility and for general corporate purposes.
The offering is expected to close on June 29, subject to customary closing conditions.
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