Coterra Energy Announces Pricing of $1.5 Billion of Senior Unsecured Notes
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Coterra Energy Inc. has announced the pricing of $1.5 billion in senior unsecured notes, split into two tranches: $750 million due in 2035 with a 5.40% interest rate, and $750 million due in 2055 with a 5.90% interest rate. The offering is expected to close on December 17.
December 03, 2024 | 11:45 pm
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NEUTRAL IMPACT
Coterra Energy Inc. has priced $1.5 billion in senior unsecured notes, which may impact its financial structure and interest obligations. The notes are split into two tranches with different maturities and interest rates.
The issuance of $1.5 billion in senior unsecured notes will affect Coterra's financial structure by increasing its debt load. The interest rates of 5.40% and 5.90% will determine the cost of this debt. However, as this is a planned financial move, it may not significantly impact the stock price in the short term unless further context about the use of proceeds or market conditions is provided.
CONFIDENCE 90
IMPORTANCE 70
RELEVANCE 100