Southwestern Energy Announces Closing of Public Offering of $350 Million of Senior Notes
28 August 2020 - 6:20AM
Business Wire
Southwestern Energy Company (“Southwestern Energy”) (NYSE: SWN)
today announced the completion of its previously announced
underwritten public offering (the “Offering”) of $350 million
aggregate principal amount of 8.375% senior notes due 2028 (the
“Notes”), with net proceeds from the Offering totaling
approximately $345 million after underwriting discounts and
offering expenses. The Notes were sold to the public at a price of
100% of their face value.
Southwestern Energy intends to use the net proceeds from the
Offering, together with the net proceeds received from its recent
common stock offering and borrowings under its credit agreement, to
fund a redemption of Montage Resources Corporation’s (“Montage”)
issued and outstanding senior notes that it will assume upon the
closing of its recently announced merger with Montage (the
“Merger”).
Citigroup, BofA Securities and Wells Fargo Securities are acting
as representatives of the underwriters and joint book-running
managers for the Offering. The Offering was made under an effective
automatic shelf registration statement on Form S-3, as amended
(Registration No. 333-238633), filed by Southwestern Energy with
the Securities and Exchange Commission (“SEC”) and only by means of
a prospectus supplement and accompanying base prospectus.
Prospective investors should read the prospectus supplement and the
accompanying base prospectus included in the registration statement
and other documents Southwestern Energy has filed with the SEC for
more complete information about Southwestern Energy and the
Offering. These documents are available at no charge by visiting
EDGAR on the SEC website at http://www.sec.gov.
Alternatively, a copy of the base prospectus and the prospectus
supplement may be obtained, when available, from:
Citigroup c/o Broadridge Financial Solutions 1155 Long Island
Avenue Edgewood, NY 11717 Telephone: 800-831-9146
BofA Securities NC1-004-03-43 200 North College Street, 3rd
floor Charlotte NC 28255-0001 Attention: Prospectus Department
Telephone: 1‐800‐294‐1322 Email:
dg.prospectus_requests@bofa.com
Wells Fargo Securities 550 S. Tryon Street, 5th Floor Charlotte,
NC 28202 Email: IBCMDCMLSHYLeveragedSyndicate@wellsfargo.com Fax:
(704) 410-4874 (with such fax to be confirmed by telephone to (704)
410-4885) Attention: Leveraged Syndicate
This news release shall not constitute an offer to sell or the
solicitation of an offer to buy these securities or the Montage
Notes, nor shall there be any sale of these securities, in any
state or jurisdiction in which such offer, solicitation or sale of
these securities would be unlawful prior to registration or
qualification under the securities laws of any such state or
jurisdiction.
About Southwestern Energy Southwestern Energy Company is
an independent energy company engaged in natural gas, natural gas
liquids and oil exploration, development, production and
marketing.
Forward-Looking Statements This news release contains
forward-looking statements. Forward-looking statements relate to
future events, including, but not limited to, anticipated results
of operations, business strategies, other aspects of Southwestern
Energy’s operations or operating results, the use of proceeds of
the offering and the consummation of the Merger. In many cases you
can identify forward-looking statements by terminology such as the
words “believe,” “expect,” “anticipate,” “plan,” “intend,”
“foresee,” “predict,” “budget,” “should,” “would,” “could,”
“attempt,” “appears,” “forecast,” “outlook,” “estimate,”
“continue,” “project,” “projection,” “goal,” “model,” “target,”
“potential,” “may,” “will,” “objective,” “guidance,” “outlook,”
“effort,” “are likely” and other similar expressions. Where, in any
forward-looking statement, Southwestern Energy expresses an
expectation or belief as to future results, such expectation or
belief is expressed in good faith and believed to have a reasonable
basis. However, there can be no assurance that such expectation or
belief will result or be achieved. The actual results of operations
can and will be affected by a variety of risks and other matters
including, but not limited to, changes in commodity prices; changes
in expected levels of natural gas and oil reserves or production;
impact of reduced demand for our products and products made from
them due to governmental and societal actions taken in response to
the COVID-19 pandemic; operating hazards, drilling risks,
unsuccessful exploratory activities; limited access to capital or
significantly higher cost of capital related to illiquidity or
uncertainty in the domestic or international financial markets;
international monetary conditions; unexpected cost increases;
potential liability for remedial actions under existing or future
environmental regulations; potential liability resulting from
pending or future litigation; and general domestic and
international economic and political conditions, including the
impact of COVID-19; as well as changes in tax, environmental and
other laws applicable to Southwestern Energy’s business. Other
factors that could cause actual results to differ materially from
those described in the forward-looking statements include other
economic, business, competitive and/or regulatory factors affecting
Southwestern Energy’s business generally as set forth in
Southwestern Energy’s filings with the SEC. Unless legally
required, Southwestern Energy Company undertakes no obligation to
update publicly any forward-looking statements, whether as a result
of new information, future events or otherwise.
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version on businesswire.com: https://www.businesswire.com/news/home/20200827005712/en/
Investor Contacts Brittany Raiford Director, Investor
Relations (832) 796-7906 brittany_raiford@swn.com
Bernadette Butler Investor Relations Advisor (832) 796-6079
bernadette_butler@swn.com
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