Cimarex Energy Prices Offering Of $750 Mln Of Senior Notes Due 2024 -Quick Facts

(RTTNews) - Cimarex Energy Co. (XEC) announced that it has priced an offering of $750 million of senior notes due 2024, which will carry an interest rate of 4.375%. The company specified that the size of the offering was increased from the previously announced $600 million. The offering is expected to close on June 4, 2014.

Cimarex intends to use offering net proceeds to repay in full amounts outstanding under its revolving credit facility and for general corporate purposes.

The company stated that the interest is payable June 1 and December 1 of each year. The first interest payment will be made December 1, 2014, and interest will accrue from June 4, 2014.