---
schema_version: "secwatch.filing_event.v1"
accession: "0001140361-24-011751"
form_type: "8-K"
ticker: "FANG"
cik: "0001539838"
company_name: "Diamondback Energy, Inc."
filed_at: "2024-03-06T23:59:59+00:00"
generated_at: "2026-06-05T02:37:17.639329+00:00"
event_type: "debt"
sentiment: "neutral"
materiality_score: 0.7
calibrated_materiality_score: 0.7
confidence: "high"
source: SEC EDGAR
---

# Diamondback Energy arranges $1.5B term loan and upsizes revolver to $2.5B for Endeavor deal

## Summary
- Term Loan: $1B Tranche A + $500M Tranche B, unsecured, to fund cash portion of Endeavor acquisition.
- Revolving credit commitments increased from $1.6B to $2.5B; swingline cut to $50M.
- Term loan funded at closing of acquisition; Tranche A matures in 1 year, Tranche B in 2 years.
- Interest rate: SOFR/ABR plus margin based on Diamondback's senior unsecured debt rating.
- Borrowing will reduce existing $8B bridge facility to $6.5B.

## SEC filing metadata
- accession: 0001140361-24-011751
- form_type: 8-K
- ticker: FANG
- cik: 0001539838
- company_name: Diamondback Energy, Inc.
- filed_at: 2024-03-06T23:59:59+00:00
- event_type: debt
- sentiment: neutral
- materiality_score: 0.7
- calibrated_materiality_score: 0.7
- confidence: high
- sec_items: 1.01, 2.03, 9.01
- EDGAR index: https://www.sec.gov/Archives/edgar/data/1539838/000114036124011751/0001140361-24-011751-index.htm
- EDGAR primary document: https://www.sec.gov/Archives/edgar/data/1539838/000114036124011751/ny20021341x9_8k.htm

## Machine-readable alternates
- HTML: https://secwatch.observer/filing/0001140361-24-011751
- JSON: https://secwatch.observer/filing/0001140361-24-011751.json
- Plain text: https://secwatch.observer/filing/0001140361-24-011751.txt

## Key facts
- Debt Financings
  Diamondback Energy, Inc. incurred term loan of up to $1.5 billion with Citibank, N.A. at alternate base rate or the adjusted Term SOFR rate, in each case, plus an applic.
  - Instrument: term loan
  - Principal: up to $1.5 billion
  - Counterparty: Citibank, N.A.
  - Rate: alternate base rate or the adjusted Term SOFR rate, in each case, plus an applic
  - Event: incurrence
  source text: The Term Loan Agreement provides the Borrower with the ability to borrow up to $1.5 billion (comprised of $1 billion of "Tranche A Loans" and $500 million of "Tranche B Loans") on an unsecured basis
  evidence_url: https://www.sec.gov/Archives/edgar/data/1539838/000114036124011751/0001140361-24-011751-index.htm
- Debt Financings
  Diamondback Energy, Inc. amended revolving credit of increased the total revolving loan commitments under the Revolving Credit Agreement from $1.6 billion to $2.5 billion with Wells Fargo Bank, National Association at remains unchanged.
  - Instrument: revolving credit
  - Principal: increased the total revolving loan commitments under the Revolving Credit Agreement from $1.6 billion to $2.5 billion
  - Counterparty: Wells Fargo Bank, National Association
  - Rate: remains unchanged
  - Event: amendment
  source text: increased the total revolving loan commitments under the Revolving Credit Agreement from $1.6 billion to $2.5 billion (such increased amount, the "Increased Commitment")
  evidence_url: https://www.sec.gov/Archives/edgar/data/1539838/000114036124011751/0001140361-24-011751-index.htm
- Material Agreements
  Diamondback Energy, Inc. amended Fourteenth Amendment with Wells Fargo Bank, National Association, as administrative agent (effective 2024-03-06).
  - Action: amendment
  - Agreement: credit facility
  - Counterparty: Wells Fargo Bank, National Association, as administrative agent
  - Effective: 2024-03-06
  source text: On March 6, 2024, the Company and the Borrower entered into a fourteenth amendment (the “Revolving Amendment”) to the Second Amended and Restated Credit Agreement, dated as of November 1, 2013, with Wells Fargo Bank, National Association, as administrative agent (the “Administrative Agent”), and the lenders party thereto (as amended, supplemented or otherwise modified prior to the date of the Revolving Amendment and as further amended by the Revolving Amendment, the “Revolving Credit Agreement”).
  evidence_url: https://www.sec.gov/Archives/edgar/data/1539838/000114036124011751/0001140361-24-011751-index.htm
- Material Agreements
  Diamondback Energy, Inc. entered into Term Loan Credit Agreement with Citibank, N.A., as administrative agent valued at $1.5 billion (effective 2024-02-29).
  - Action: entry
  - Agreement: credit facility
  - Counterparty: Citibank, N.A., as administrative agent
  - Value: $1.5 billion
  - Effective: 2024-02-29
  source text: On February 29, 2024 (the “Term Loan Effective Date”), Diamondback Energy, Inc., as guarantor (the “Company”), entered into a Term Loan Credit Agreement with Diamondback E&P LLC, as borrower (the “Borrower”), the lenders named therein and Citibank, N.A., as administrative agent (the “Term Loan Agreement”).
  evidence_url: https://www.sec.gov/Archives/edgar/data/1539838/000114036124011751/0001140361-24-011751-index.htm

This AI-assisted summary is a reading aid. Review the linked SEC EDGAR filing before relying on any specific claim.