Sanchez Energy Corp. (NYSE: SN) has commenced an exchange offer of up to $1.15 billion aggregate principal amount of its 6.125% senior notes due 2023 that have been registered under the Securities Act of 1933, as amended, for an equal amount of its outstanding 6.125% Senior Notes due 2023 that have not been registered under the act.
The registered notes will have terms that are identical in all material respects to the terms of the unregistered notes, except that the registered notes will not have any of the transfer restrictions, registration rights or additional interest relating to the unregistered notes. Sanchez Energy, based in Houston, will not receive any proceeds for the exchange offer.
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