RSP Permian, Inc. (RSPP) priced an additional $200 million, in aggregate principal amount, of its 6.625% senior notes in a private placement, the company said Aug. 5.
The notes are due on Oct. 1, 2022, and the aggregate amount increased by $50 million, the company said.
They are being offered in addition to the $500 million, in aggregate principal amount, of identical notes sold in a September 2014 private placement. All the notes will be a single class of debt securities. The offering is scheduled to close on Aug. 10.
The net proceeds from this offering, together with the proceeds from a roughly-$157.5 million equity offering, will fund part of the purchase price of the properties acquired in Martin County and Glasscock County, Texas. This includes repayment of $50 million of revolving credit facility borrowings. General corporate purposes will also be supported.
Subsidiary RSP Permian LLC will guarantee the notes.
RSP Permian Inc. is based in Dallas.
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