Concho Resources Inc. Announces $400M Senior Unsecured Notes Offering
Concho Resources Inc. (NYSE: CXO) announced that it intends, subject to market conditions, to publicly offer $400 million aggregate principal amount of senior unsecured notes due 2023. The senior unsecured notes will be fully and unconditionally guaranteed by all of Concho's current subsidiaries. Concho intends to use the net proceeds from the offering to repay a portion of the outstanding balance under its credit facility.
J.P. Morgan Securities LLC, Merrill Lynch, Pierce, Fenner & Smith Incorporated, Barclays Capital Inc. and Wells Fargo Securities, LLC will act as joint book-running managers for the senior unsecured notes offering.
© 2017 Benzinga.com. Benzinga does not provide investment advice. All rights reserved.