SM Energy begins exchange offer for $600M senior notes

SM Energy Co. (NYSE: SM) has begun an offer to exchange all of its outstanding $600 million 6.125% senior notes due 2022, which have been registered under the Securities Act of 1933, in exchange for its outstanding $600 million 6.125% senior notes due 2022, which were issued on Nov. 17, 2014, in a private placement.

The exchange notes are being offered pursuant to a registration rights agreement previously entered into in connection with the issuance of the outstanding notes. The exchange offer is being conducted upon the terms and subject to the conditions set forth in the prospectus dated June 10, and the related letter of transmittal.

The terms of the exchange notes are substantially identical to the terms of the outstanding notes, except that provisions relating to transfer restrictions, registration rights and additional interest will not apply to the exchange notes. The exchange offer is limited to holders of the outstanding notes. The exchange offer is scheduled to expire at 5 p.m. New York time on July 9, unless extended. Outstanding notes tendered pursuant to the exchange offer may be withdrawn at any time prior to the expiration date by following the procedures set forth in the exchange offer prospectus and the related letter of transmittal.

 

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