SM Energy Prices Upsized Offering Of $750M Of Its 6.750% Senior Notes Due 2029 And $750M Of Its 7.000% Senior Notes Due 2032
Portfolio Pulse from Benzinga Newsdesk
SM Energy has announced an upsized offering of $750 million of its 6.750% Senior Notes due 2029 and $750 million of its 7.000% Senior Notes due 2032. The proceeds will be used to fund a pending acquisition in the Uinta Basin, redeem existing notes, and cover related expenses.
July 18, 2024 | 9:15 pm
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SM Energy has announced an upsized offering of $1.5 billion in senior notes to fund a pending acquisition in the Uinta Basin, redeem existing notes, and cover related expenses. The offering is expected to close on July 25, 2024.
The upsized offering indicates strong investor demand and provides SM Energy with the necessary capital to fund its strategic acquisition and manage its debt. This is likely to be viewed positively by investors, potentially driving the stock price up in the short term.
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