{"id":789515,"date":"2023-10-10T19:17:34","date_gmt":"2023-10-10T23:17:34","guid":{"rendered":"https:\/\/www.marketnewsdesk.com\/index.php\/civitas-resources-inc-announces-pricing-of-1000-million-of-new-senior-notes-due-2030\/"},"modified":"2023-10-10T19:17:34","modified_gmt":"2023-10-10T23:17:34","slug":"civitas-resources-inc-announces-pricing-of-1000-million-of-new-senior-notes-due-2030","status":"publish","type":"post","link":"https:\/\/www.marketnewsdesk.com\/index.php\/civitas-resources-inc-announces-pricing-of-1000-million-of-new-senior-notes-due-2030\/","title":{"rendered":"Civitas Resources, Inc. Announces Pricing of $1,000 Million of New Senior Notes Due 2030"},"content":{"rendered":"

<\/p>\n

Civitas Resources, Inc. Announces Pricing of $1,000 Million of New Senior Notes Due 2030<\/b><\/p>\n

DENVER–(BUSINESS WIRE<\/a>)–
\nCivitas Resources, Inc. (the \u201cCompany\u201d) (NYSE: CIVI) today announced that it has priced a private placement (the \u201cOffering\u201d) to eligible purchasers under Rule 144A and Regulation S of the Securities Act of 1933, as amended (the \u201cSecurities Act\u201d) of $1,000 million in aggregate principal amount of new 8.625% senior notes due 2030 (the \u201cNotes\u201d) at par. The Offering is expected to close on October 17, 2023, subject to the satisfaction of customary closing conditions.<\/p>\n

\nThe Company expects to use the net proceeds from the Offering, together with cash on hand, to fund a portion of the cash purchase price of the Company\u2019s recently announced pending acquisition of certain oil and gas properties, interests and related assets located in the Midland Basin from Vencer Energy, LLC (\u201cVencer\u201d) (such acquisition, the \u201cAcquisition\u201d).<\/p>\n

\nThe Notes will be subject to a \u201cspecial mandatory redemption\u201d in the event that the transactions contemplated by the Acquisition pursuant to the Purchase and Sale Agreement, dated October 3, 2023 (the \u201cPurchase Agreement\u201d), by and between the Company and Vencer, are not consummated on or prior to January 31, 2024, or if the Company notifies the trustee of the Notes that it will not pursue the consummation of the Acquisition.<\/p>\n

\nThe Notes to be offered will not be registered under the Securities Act or under any state or other securities laws, and the Notes will be issued pursuant to an exemption therefrom, and may not be offered or sold within the United States, or to or for the account or benefit of any U.S. Person, absent registration or an applicable exemption from registration requirements.<\/p>\n

\nThe Notes are being offered only to persons who are either reasonably believed to be \u201cqualified institutional buyers\u201d under Rule 144A or who are non-\u201cU.S. persons\u201d outside the United States under Regulation S as defined under applicable securities laws.<\/p>\n

\nThis press release does not constitute an offer to sell, a solicitation to buy or an offer to purchase or sell any securities, nor shall there be any sale of these 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.<\/p>\n

About Civitas Resources, Inc.<\/b><\/p>\n

\nCivitas Resources, Inc. is an independent, domestic oil and gas producer focused on development of its premier assets in the Denver-Julesburg (DJ) and Permian basins. The Company has a proven business model combining capital discipline, a strong balance sheet, cash flow generation, and sustainable cash returns to shareholders. The Company employs leading Environmental, Social, and Governance practices throughout the Company and was Colorado\u2019s first carbon neutral oil and gas producer. The Company\u2019s common stock is listed for trading on the New York Stock Exchange under the symbol: \u201cCIVI.\u201d<\/p>\n

Cautionary Statement Regarding Forward-Looking Information<\/b><\/p>\n

\nCertain statements in the foregoing, including those that express belief, expectation or intention, are \u201cforward-looking\u201d statements based on assumptions currently believed to be valid. Forward-looking statements are all statements other than statements of historical facts. The words \u201canticipate,\u201d \u201cbelieve,\u201d \u201censure,\u201d \u201cexpect,\u201d \u201cif,\u201d \u201cintend,\u201d \u201cestimate,\u201d \u201cprobable,\u201d \u201cproject,\u201d \u201cforecasts,\u201d \u201cpredict,\u201d \u201coutlook,\u201d \u201caim,\u201d \u201cwill,\u201d \u201ccould,\u201d \u201cshould,\u201d \u201cwould,\u201d \u201cpotential,\u201d \u201cmay,\u201d \u201cmight,\u201d \u201canticipate,\u201d \u201clikely,\u201d \u201cplan,\u201d \u201cpositioned,\u201d \u201cstrategy,\u201d and similar expressions or other words of similar meaning, and the negatives thereof, are intended to identify forward-looking statements. Specific forward-looking statements include statements regarding the Company\u2019s plans and expectations with respect to the Offering, including the anticipated use of the proceeds therefrom and the expected closing date thereof, and the pending Acquisition. The forward-looking statements are intended to be subject to the safe harbor provided by Section 27A of the Securities Act, Section 21E of the Securities Exchange Act of 1934, and the Private Securities Litigation Reform Act of 1995.<\/p>\n

\nThe Company cautions investors that any forward-looking statements are subject to known and unknown risks and uncertainties, many of which are outside the Company\u2019s control, and which may cause actual results and future trends to differ materially from those matters expressed in, or implied or projected by, such forward-looking statements, which speak only as of the date they are made. Investors are cautioned not to place undue reliance on these forward-looking statements. Risks and uncertainties that could cause actual results to differ from those described in forward-looking statements include, without limitation, the following:<\/p>\n