Jagged Peak Energy LLC
Description
Jagged has commenced a private offering of $400 million in aggregate principal amount of senior unsecured notes due 2026 to eligible purchasers. The notes will be guaranteed on a senior unsecured basis by Jagged Peak. The 2026 notes, which priced at par, will mature on May 1, 2026, and will pay interest at an annual rate of 5.875%.
The company intends to use the net proceeds of the notes offering to repay borrowings under its revolving credit facility and for general corporate purposes.