Extracted from this filing and checked against the source text.
Debt Financings
SEC 8-K Item 2.03/2.04
confidence 0.9
CIVITAS RESOURCES, INC. incurred senior notes of $1,000,000,000 aggregate principal amount at 8.625% per annum maturing November 1, 2030.
- Instrument
- senior notes
- Principal
- $1,000,000,000 aggregate principal amount
- Rate
- 8.625% per annum
- Maturity
- November 1, 2030
- Event
- incurrence
Exact text from the filing
completed its previously announced offering (the “Offering”) of $1,000,000,000 aggregate principal amount of 8.625% Senior Notes due 2030
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Material Agreements
SEC 8-K Item 1.01/1.02
confidence 0.95
CIVITAS RESOURCES, INC. entered into Indenture and 8.625% Senior Notes due 2030 with Computershare Trust Company, N.A. valued at $1,000,000,000 aggregate principal amount of 8.625% Senior Notes due 2030 (effective 2023-10-17).
- Action
- entry
- Agreement
- notes offering
- Counterparty
- Computershare Trust Company, N.A.
- Value
- $1,000,000,000 aggregate principal amount of 8.625% Senior Notes due 2030
- Effective
- 2023-10-17
Exact text from the filing
Item 1.01 Entry into a Material Definitive Agreement. Indenture and 8.625% Senior Notes due 2030 On October 17, 2023, Civitas Resources, Inc. (the “Company”), completed its previously announced offering (the “Offering”) of $1,000,000,000 aggregate principal amount of 8.625% Senior Notes due 2030 (the “Notes”). The Company expects to use the net proceeds from the Offering, together with cash on hand, to fund a portion of the cash purchase price for the recently announced pending acquisition of certain oil and gas properties, interests and related assets located in the Midland Basin from Vencer Energy, LLC (such acquisition, the “Acquisition”). Pending the potential use of the net proceeds of the Offering to fund a portion of the consideration for the Acquisition, the Company may temporarily apply the net proceeds to repay outstanding borrowings under the Company’s credit facility.
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