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8-K filed April 18, 2024, 7:59 PM ET ticker FANG CIK 0001539838

debt confidence high sentiment neutral materiality 0.75

Diamondback Energy, Inc. (FANG): debt financing — Diamondback Energy completes $5.5B senior notes offering; proceeds to fund pending Endeavor acquisition

Diamondback Energy, Inc.

Issued $850M 5.200% notes due 2027, $850M 5.150% notes due 2030, $1.3B 5.400% notes due 2034, $1.5B 5.750% notes due 2054, $1.0B 5.900% notes due 2064.
Notes are senior unsecured obligations guaranteed by Diamondback E&P LLC.
Special mandatory redemption at 101% if Endeavor acquisition not closed by August 11, 2025 (or agreed later date); 2054 notes exempt.
Offering closed April 18, 2024; proceeds for general corporate purposes including financing the Endeavor merger.

item 1.01 item 2.03 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 1.0

Diamondback Energy, Inc. incurred senior notes of $850,000,000 with Noteholders at 5.200% maturing 2027.

Instrument: senior notes
Principal: $850,000,000
Counterparty: Noteholders
Rate: 5.200%
Maturity: 2027
Event: incurrence

Exact text from the filing

On April 18, 2024, Diamondback Energy, Inc. (the “Company” or “Diamondback”) completed its previously announced underwritten public offering (the “Notes Offering”) of (i) $850,000,000 aggregate principal amount of its 5.200% Senior Notes due 2027 (the “2027 Notes”),

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Debt Financings SEC 8-K Item 2.03/2.04 confidence 1.0

Diamondback Energy, Inc. incurred senior notes of $1,000,000,000 with Noteholders at 5.900% maturing 2064.

Instrument: senior notes
Principal: $1,000,000,000
Counterparty: Noteholders
Rate: 5.900%
Maturity: 2064
Event: incurrence

Exact text from the filing

(v) $1,000,000,000 aggregate principal amount of its 5.900% Senior Notes due 2064 (the “2064 Notes”

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Debt Financings SEC 8-K Item 2.03/2.04 confidence 1.0

Diamondback Energy, Inc. incurred senior notes of $1,300,000,000 with Noteholders at 5.400% maturing 2034.

Instrument: senior notes
Principal: $1,300,000,000
Counterparty: Noteholders
Rate: 5.400%
Maturity: 2034
Event: incurrence

Exact text from the filing

(iii) $1,300,000,000 aggregate principal amount of its 5.400% Senior Notes due 2034 (the “2034 Notes”),

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Debt Financings SEC 8-K Item 2.03/2.04 confidence 1.0

Diamondback Energy, Inc. incurred senior notes of $1,500,000,000 with Noteholders at 5.750% maturing 2054.

Instrument: senior notes
Principal: $1,500,000,000
Counterparty: Noteholders
Rate: 5.750%
Maturity: 2054
Event: incurrence

Exact text from the filing

(iv) $1,500,000,000 aggregate principal amount of its 5.750% Senior Notes due 2054 (the “2054 Notes”)

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Debt Financings SEC 8-K Item 2.03/2.04 confidence 1.0

Diamondback Energy, Inc. incurred senior notes of $850,000,000 with Noteholders at 5.150% maturing 2030.

Instrument: senior notes
Principal: $850,000,000
Counterparty: Noteholders
Rate: 5.150%
Maturity: 2030
Event: incurrence

Exact text from the filing

(ii) $850,000,000 aggregate principal amount of its 5.150% Senior Notes due 2030 (the “2030 Notes”),

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Material Agreements SEC 8-K Item 1.01/1.02 confidence 0.95

Diamondback Energy, Inc. entered into Second Supplemental Indenture with Computershare Trust Company, National Association valued at $850,000,000 aggregate principal amount of its 5.200% Senior Notes due 2027, $850,000,000 aggregate (effective 2024-04-18).

Action: entry
Agreement: notes offering
Counterparty: Computershare Trust Company, National Association
Value: $850,000,000 aggregate principal amount of its 5.200% Senior Notes due 2027, $850,000,000 aggregate
Effective: 2024-04-18

Exact text from the filing

the Second Supplemental Indenture, dated as of April 18, 2024 (the “Second Supplemental Indenture” and, together with the Base Indenture, the “Indenture”), among the Company, as the issuer, Diamondback E&P LLC, as the subsidiary guarantor (“E&P”), and the Trustee, setting forth specific terms applicable to the Notes.

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299 debt financings filed in the last 30 days. Browse all debt financings →

Diamondback Energy, Inc. filing history →

Source: SEC EDGAR

accession 0001140361-24-020511

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