Vital Energy, Inc.: debt financing — Vital Energy issues $200M of 7.875% senior notes due 2032; upsizes tender offer for 2030 notes

Vital Energy, Inc.

Issued $200M aggregate principal of 7.875% senior notes due 2032, priced at 100.75% of par.
Net proceeds ~$197.2M after discount and expenses; used to repurchase 10.125% notes due 2028 and 9.750% notes due 2030.
Tender offer for 9.750% notes due 2030 increased cap to $197.636M; expiration extended to April 16, 2024.
Tender offer was fully subscribed by early tender date (March 27); proration factor of 50.72% if new notes offering not completed.
Notes are additional issuance under existing indenture, treated as single series with $800M of existing notes.

item 1.01 item 2.03 item 7.01 item 8.01 item 9.01

Key facts

Extracted from this filing and checked against the source text.

Debt Financings SEC 8-K Item 2.03/2.04 confidence 0.9

Vital Energy, Inc. incurred senior notes of $200,000,000 aggregate principal amount with U.S. Bank Trust Company, National Association at 7.875% per annum maturing April 15, 2032.

Instrument: senior notes
Principal: $200,000,000 aggregate principal amount
Counterparty: U.S. Bank Trust Company, National Association
Rate: 7.875% per annum
Maturity: April 15, 2032
Event: incurrence

Exact text from the filing

On April 3, 2024, Vital Energy, Inc. (the “Company”) issued $200,000,000 aggregate principal amount of 7.875% senior notes due 2032 (the “Notes”).

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Material Agreements SEC 8-K Item 1.01/1.02 confidence 0.9

Vital Energy, Inc. entered into Indenture with U.S. Bank Trust Company, National Association valued at $200,000,000 aggregate principal amount (effective 2024-04-03).

Action: entry
Agreement: notes offering
Counterparty: U.S. Bank Trust Company, National Association
Value: $200,000,000 aggregate principal amount
Effective: 2024-04-03

Exact text from the filing

On April 3, 2024, Vital Energy, Inc. (the “Company”) issued $200,000,000 aggregate principal amount of 7.875% senior notes due 2032 (the “Notes”).

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Source: SEC EDGAR

accession 0001104659-24-043152

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