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Diamondback Energy (FANG) Prices $650M 6.25% Notes Offering

November 29, 2022 4:05 PM EST

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Diamondback Energy, Inc. (NASDAQ: FANG) announced today that it has priced an offering of $650,000,000 in aggregate principal amount of 6.250% senior notes that will mature on March 15, 2053. The price to the public for the Notes is 99.985% of the principal amount.

Diamondback intends to use the net proceeds from the Notes Offering for general corporate purposes, including, without limitation, paying a portion of the cash consideration for the pending acquisition of all of the leasehold interest and related assets of Lario Permian, LLC (the “Pending Acquisition”) upon closing (if it occurs). The Notes Offering is expected to close on December 13, 2022, subject to customary closing conditions.

The closing of the Notes Offering is not contingent on the closing of the Pending Acquisition.

The Notes will be sold in a registered offering pursuant to an effective shelf registration statement on Form S-3ASR that was previously filed with the Securities and Exchange Commission, a prospectus supplement and related base prospectus for the Notes Offering.

TD Securities (USA) LLC, Citigroup Global Markets Inc. and Truist Securities, Inc. have served as joint book-running managers for the Notes Offering.



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