10:59 AM EDT, 03/26/2024 (MT Newswires) -- Matador Resources ( MTDR ) said Tuesday it plans to offer $800 million of senior unsecured notes due 2032 in a private placement.

The company said it plans to use the proceeds to repurchase about $699.2 million of its outstanding 5.875% senior notes due 2026 and for general corporate purposes.

Separately, Matador said it has started a cash tender offer for the 2026 senior notes, with holders eligible to get $1,000.75 per $1,000 principal amount of the notes. The tender offer will expire on April 1.

The tender offer is subject to some conditions, including raising at least $700 million from the 2032 notes offering, the firm said.

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