SM Energy Co. (SM) priced a public offering of $500 million, in aggregate principal amount, of senior notes, the company said May 7.
The 5.625% notes are due 2025.
The offering scheduled to close May 21.
Net proceeds will fund the concurrent tender offer to buy back all of outstanding 6.625% notes due 2019. They will also repay outstanding credit facility borrowings and support general corporate purposes.
Wells Fargo Securities LLC, BofA Merrill Lynch, J.P. Morgan, Barclays, BBVA and RBC Capital Markets are joint book-running managers.
Denver-based SM Energy Co. explores and develops oil and natural gas across the U.S.
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