Vital Energy intends to offer, subject to market and other conditions, $575.0 million in aggregate principal amount of senior notes due 2032 in a private placement to eligible purchasers. The Company intends to use the net proceeds of the Offering, if completed, together with existing corporate liquidity, to fund the purchase for cash of up to $475.0 million aggregate principal amount of our 10.125% senior notes due 2028 and $75.0 million aggregate principal amount of our 9.750% senior notes due 2030 in the cash tender offers the Company commenced pursuant to an offer to purchase dated March 14, 2024, pay fees and expenses incurred therewith and/or repay borrowings outstanding under our senior secured credit facility. The senior notes will be senior unsecured obligations of the Company and will be guaranteed on a senior unsecured basis by Vital Midstream Services, LLC, a subsidiary of the Company, and certain of its future subsidiaries.
Published first on TheFly – the ultimate source for real-time, market-moving breaking financial news. Try Now>>
See Insiders’ Hot Stocks on TipRanks >>
Read More on VTLE:
- Vital Energy Names Stephen Faulkner VP and Chief Accounting Officer
- A New Cause for Concern: Vital Energy, Inc. Adds a New Natural and Human Disruptions Risk
- Vital Energy price target raised to $54 from $50 at Piper Sandler
- Vital Energy management to meet with Truist
- Vital Energy Outlines Future Projections with Caution
