MIDLAND, Texas–(BUSINESS WIRE)–Concho Resources Inc. (NYSE: CXO) (“Concho” or the “Company”) today announced that it has priced an offering of $600 million aggregate principal amount of senior unsecured notes due 2025. The notes will bear interest at a rate of 4.375% per annum and will be issued at par. Concho intends to use the net proceeds from the offering to finance the redemption of all of its outstanding 6.5% Senior Notes due 2022. Concho expects to close the sale of the notes on December 28, 2016, subject to customary closing conditions.
BofA Merrill Lynch, J.P. Morgan Securities LLC and Wells Fargo Securities, LLC will act as joint book-running managers for the senior unsecured notes offering. The offering will be made only by means of a preliminary prospectus supplement and the accompanying base prospectus, copies of which may be obtained on the Securities and Exchange Commission (“SEC”) website at www.sec.gov. Alternatively, the underwriters will arrange to send you the preliminary prospectus supplement and related base prospectus if you request them by contacting BofA Merrill Lynch, NC1-004-03-43, 200 North College Street, 3rd floor, Charlotte, North Carolina 28255-0001, Attention: Prospectus Department, or by e-mailing [email protected]; J.P. Morgan Securities LLC, c/o Broadridge Financial Solutions, 1155 Long Island Avenue, Edgewood, New York 11717, or via telephone at (866) 803-9204; or Wells Fargo Securities, LLC, 608 2nd Avenue South, Suite 1000, Minneapolis, Minnesota 55402, Attention: WFS Customer Service, via telephone at (800) 645-3751, or by e-mailing [email protected].
This press release is neither an offer to sell nor a solicitation of an offer to buy any securities, nor shall there be any sale of any such securities in any state or jurisdiction in which such offer, solicitation or sale would be unlawful prior to registration or qualification under the securities laws of any such state or jurisdiction. A registration statement, as amended, relating to the securities has been filed and became effective August 6, 2015. This press release is not intended as a notice of redemption. Any such notice will be given to holders of the 6.5% Senior Notes due 2022 in a manner prescribed in the indenture governing those notes.
Concho Resources Inc.
Concho Resources Inc. is an independent oil and natural gas company engaged in the acquisition, development, exploration and production of oil and natural gas properties. The Company’s operations are focused in the Permian Basin of southeast New Mexico and west Texas.