Cimarex Energy Co. (NYSE: XEC) has priced an offering of $750 million aggregate principal amount of senior notes due 2024, which will carry an interest rate of 4.375%. The size of the offering was increased from the previously announced $600 million. The notes were sold to the public at par. Cimarex intends to use the net proceeds from the offering to repay in full amounts outstanding under its revolving credit facility and for general corporate purposes.
Interest is payable June 1 and December 1 of each year. The first interest payment will be made Dec. 1, and interest will accrue from June 4. The offering is expected to close on June 4.
Wells Fargo Securities LLC, Deutsche Bank Securities Inc., JP Morgan Securities LLC, Mitsubishi UFJ Securities (USA) Inc., and US Bancorp Investments, Inc. have acted as joint book-running managers for the offering.