Pioneer Natural Resources Co.


Priced an upside offering of 0.250% convertible senior notes due 2025 that included an option to purchase, within a 13-day period, up to an additional $172.5 million aggregate principal amount of the notes. Notes will bear interest at a rate of 0.25% per year and will be payable semiannually. Proceeds will be used to fund capped call transactions plus tender offers of up to $500 million of outstanding 2021, 2022 and 2028 notes as well as the repurchase of about $50 million in shares of common stock. Remaining proceeds will be used for general corporate purposes, which may include paying down debt. Vinson & Elkins was legal adviser.

Pioneer Natural Resources ‘Tests Waters’ with Billion-dollar Debt Offering

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