Parsley Energy Launches US$400 Million Offering of Senior Notes

By Isha Makkar
February 06, 2020
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Parsley Energy

Parsley Energy LLC (Parsley), a subsidiary of Permian-focused E&P independent Parsley Energy Inc., and Parsley’s wholly-owned subsidiary, Parsley Finance Corp. have commenced a private offering of US$400 million in aggregate principal amount of senior unsecured notes due 2028. The company intends to use the net proceeds from the notes offering and borrowings under its revolving credit facility to redeem all of its outstanding 6.250% senior unsecured notes due 2024. The 2028 Notes, which are priced at par, will mature on February 15th, 2028 and will pay interest at an annual rate of 4.125%. Parsley Energy Inc. will not guarantee the 2028 Notes.

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