DALLAS, Aug. 5, 2015 /PRNewswire/ -- RSP
Permian, Inc. ("RSP" or the "Company") (NYSE: RSPP)
announced today that, subject to market conditions, it intends to
offer an additional $150 million in
aggregate principal amount of its 6.625% Senior Notes due 2022 (the
"Notes") in a private placement to eligible purchasers under
Rule 144A and Regulation S of the Securities Act of 1933, as
amended (the "Securities Act").
As previously announced, the Company has recently closed
acquisitions of, or entered into definitive purchase agreements to
acquire, undeveloped acreage and oil and gas producing properties
located in Martin and Glasscock counties for an aggregate purchase
price of approximately $274 million,
subject to certain customary purchase price adjustments (the
"Martin Glasscock Acquisitions"). The Company intends to use the
net proceeds from this offering, together with the proceeds from
our previously announced equity offering, which we estimate at
approximately $157.5 million (before
the underwriter's discounts and commissions and estimated offering
expenses), to fund a portion of the purchase price of the Martin
Glasscock Acquisitions (including to repay $50.0 million of borrowings under our revolving
credit facility incurred for that purpose) and the remainder for
general corporate purposes.
The Notes have not been registered under the Securities Act or
any state securities laws, and unless so registered, the securities
may not be offered or sold in the United
States except pursuant to an exemption from, or in a
transaction not subject to, the registration requirements of the
Securities Act and applicable state securities laws. The Notes are
expected to be eligible for trading by qualified institutional
buyers in the United States under
Rule 144A under the Securities Act and outside the United States pursuant to Regulation S
under the Securities Act.
This press release is being issued pursuant to Rule 135c
under the Securities Act, and is neither an offer to sell nor a
solicitation of an offer to buy the Notes or any other securities
and shall not constitute an offer to sell or a solicitation of an
offer to buy, or a sale of, the Notes or any other securities in
any jurisdiction in which such offer, solicitation or sale is
unlawful.
About RSP Permian, Inc.
RSP is an independent oil and natural gas company focused on the
acquisition, exploration, development and production of
unconventional oil and associated liquids-rich natural gas reserves
in the Permian Basin of West
Texas. The vast majority of RSP's acreage is located on
large, contiguous acreage blocks in the core of the Midland Basin, a sub-basin of the Permian
Basin, primarily in the adjacent counties of Midland, Martin, Andrews, Dawson, Ector
and Glasscock.
Forward-Looking Statements
This news release contains forward-looking statements within the
meaning of the federal securities laws. All statements, other than
historical facts, that address activities that RSP assumes, plans,
expects, believes, intends or anticipates (and other similar
expressions) will, should or may occur in the future are
forward-looking statements. Forward-looking statements are based on
management's current beliefs, based on currently available
information, as to the outcome and timing of future events. These
forward-looking statements involve certain risks and uncertainties
that could cause the results to differ materially from those
expected by the management of RSP. Information concerning these
risks and other factors can be found in RSP's filings with the SEC,
including its Annual Report on Form 10-K, which can be
obtained free of charge on the SEC's web site located at
http://www.sec.gov. RSP undertakes no obligation to update or
revise any forward-looking statement.
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SOURCE RSP Permian, Inc.