secwatch.observer — SEC 8-K summary
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Issuer:     CIVITAS RESOURCES, INC. (—)
CIK:        0001509589
Form:       8-K
Filed at:   2023-10-18T23:59:59+00:00
Accession:  0001104659-23-109865
Event type: debt
Sentiment:  neutral
Materiality: 0.75
Item codes: 1.01, 2.03, 9.01
LLM model:  deepseek-v4-flash:cloud@v2

Civitas Resources issues $1B of 8.625% senior notes due 2030 to fund Vencer Energy acquisition
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- $1,000,000,000 of 8.625% Senior Notes due 2030 issued; interest payable semi-annually, maturity Nov 1, 2030.
- Net proceeds to fund a portion of the cash purchase price for pending acquisition of Midland Basin assets from Vencer Energy LLC.
- Special mandatory redemption at 100% if acquisition not consummated by Jan 31, 2024, or if company abandons it.
- Notes are senior unsecured, guaranteed by all existing subsidiaries; include make-whole redemption until Nov 1, 2026, then declining premiums.
- Proceeds may temporarily repay credit facility borrowings pending acquisition closing.

Source:
  EDGAR index:    https://www.sec.gov/Archives/edgar/data/1509589/000110465923109865/0001104659-23-109865-index.htm
  Primary doc:    https://www.sec.gov/Archives/edgar/data/1509589/000110465923109865/tm2320652d13_8k.htm
  HTML page:      https://secwatch.observer/filing/0001104659-23-109865

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