(Source: Shutterstock.com)
Sitio Royalties Corp. has upsized its offer to sell senior unsecured noted due in 2028 to $600 million from $500 million, the company said on Sept. 26.
The notes are being offered by subsidiaries Sitio Royalties Operating Partnership LP (Partnership) and Sitio Finance Corp. The offered notes will accrue interest at a rate of 7.875% per annum and mature on Nov. 1, 2028.
The offering is expected to close on Oct. 3, subject to customary closing conditions. Net proceeds from the offering are intended to fund the redemption of all of the Partnership’s outstanding senior unsecured notes due 2026 and repay a portion of the outstanding borrowings under the Partnership's revolving credit facility.
Recommended Reading
Attitude Adjustment Incoming from DC, Energy Experts Say
2024-11-25 - The energy Industry can expect more cooperation from the federal government through personnel and policy adjustments.
API: Congress Needed for Long-Lasting Policy Changes
2025-01-14 - The American Petroleum Institute lays out its political plans as the next presidential administration prepares to take office.
Exclusive: Arbo Monitoring Courts, Congress Amid Energy Policy Shifts
2024-12-09 - Chip Moldenhauer, CEO and founder of energy analytics company Arbo, gives insight into regulatory impacts the energy sector should watch for entering 2025, in this Hart Energy Exclusive interview.
Appeals Court Rules in Favor of FERC-Permitted Indiana NatGas Line
2025-01-08 - “As night follows day, an environmental challenge follows the approval of a natural gas pipeline,” a Court of Appeals, D.C. Circuit panel said in ruling in favor of a Boardwalk Pipeline expansion project.
Comments
Add new comment
This conversation is moderated according to Hart Energy community rules. Please read the rules before joining the discussion. If you’re experiencing any technical problems, please contact our customer care team.