secwatch.observer — SEC 8-K summary
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Issuer:     Magnolia Oil & Gas Corp (MGY)
CIK:        0001698990
Form:       8-K
Filed at:   2024-11-12T23:59:59+00:00
Accession:  0001104659-24-116408
Event type: debt
Sentiment:  neutral
Materiality: 0.60
Item codes: 8.01, 9.01
LLM model:  deepseek-v4-flash:cloud@v2

Magnolia proposes $400M senior notes due 2032 to refinance 2026 notes; also amends credit facility
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- Issuers intend to offer $400M senior unsecured notes due 2032 in private placement.
- Net proceeds will be used to repurchase and redeem all outstanding 6.00% Senior Notes due 2026.
- Before closing notes offering, Magnolia Operating expects to amend credit facility to $1.5B commitments with $800M borrowing base.
- Amended RBL facility matures Nov 13, 2029 or 91 days prior to 2026 notes maturity if ≥$50M outstanding; covenants include leverage ≤3.5x.
- Notes offering exempt from registration; offered only to QIBs and non-U.S. persons under Rule 144A/Reg S.

Source:
  EDGAR index:    https://www.sec.gov/Archives/edgar/data/1698990/000110465924116408/0001104659-24-116408-index.htm
  Primary doc:    https://www.sec.gov/Archives/edgar/data/1698990/000110465924116408/tm2427987d1_8k.htm
  HTML page:      https://secwatch.observer/filing/0001104659-24-116408

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