Diamondback Energy to price fixed-rate notes in three tranches

By Devika Patel

Knoxville, Tenn., March 18 – Diamondback Energy Inc. plans to sell fixed-rate senior notes (Ba1) in three tranches due 2023, 2031 and 2051, according to a 424B5 filing with the Securities and Exchange Commission.

The 2023 notes have a par call after an initial non-call period. The 2031 and 2051 notes will have make-whole calls and then par calls.

Goldman Sachs & Co. LLC, Credit Suisse Securities (USA) LLC and J.P. Morgan Securities LLC are the bookrunners.

Proceeds will be used for a cash tender offer to purchase some of the company's notes and for general corporate purposes.

Diamondback is a Midland, Tex., oil and natural gas company.

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