PDC Energy Inc. (NASDAQ: PDCE) will offer $400 million of senior unsecured notes due 2024 in a private placement, the company said Sept. 12.
The net proceeds will fund part of the cash consideration for the acquisition of two privately held companies managed by Kimmeridge Energy Management Co. and pay related fees and expenses, and will also support general corporate purposes.
The indenture governing the notes requires that PDC Energy redeem the notes if the acquisition is terminated or not fulfilled by Dec. 31 or in some circumstances, by Jan. 15, 2017.
PDC Energy Inc. is based in Denver.
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