RSP Permian to begin senior unsecured notes offering

RSP Permian Inc. (NYSE: RSPP) intends to offer an additional $150 million in aggregate principal amount of its 6.625% senior notes due 2022 in a private placement to eligible purchasers under Rule 144A and Regulation S of the Securities Act of 1933, as amended.

The company has recently closed acquisitions of, or entered into definitive purchase agreements to acquire, undeveloped acreage and oil and gas producing properties located in Martin and Glasscock counties, Texas, for an aggregate purchase price of $274 million.

RSP Permian plans to use the net proceeds from this offering, together with the proceeds from its equity offering, which the company estimates at $157.5 million (before the underwriter's discounts and commissions and estimated offering expenses), to fund a portion of the purchase price of the Martin/Glasscock acquisitions (including to repay $50 million of borrowings under RSP Permian’s revolving credit facility incurred for that purpose) and the remainder for general corporate purposes

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