08:51 AM EDT, 07/29/2024 (MT Newswires) -- Permian Resources ( PR ) said on Monday that its subsidiary will offer to sell $750 million in aggregate principal amount of senior unsecured notes due 2033 in a private placement.

The net proceeds will be used to buy back any outstanding 2026 Notes through a Tender Offer, redeem any remaining 2026 Notes, fund part of the acquisition of oil and gas assets from Occidental Petroleum affiliates, and repay a portion of its credit facility.

Additionally, the company also plans to buy back all of its outstanding 7.75% Senior Notes due 2026 for cash.

The company said the tender offer, dated July 29, depends on completing the note offering. If the tender offer is completed, any remaining 2026 Notes will be redeemed around February 15, 2025, at 100% of the principal amount plus accrued interest.

Price: 15.32, Change: +0.01, Percent Change: +0.07