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Matador Resources driving by with $800 million eight-year notes; early guidance high 6% area
By Abigail W. Adams
Portland, Me., March 26 – Matador Resources Co. plans to price $800 million of eight-year senior notes in a Tuesday drive-by with early guidance for a yield in the high 6% area, according to a market source.
The notes are non-callable for three years.
BofA Securities Inc. is leading the Rule 144A and Regulation S offering.
J.P. Morgan Securities LLC, KeyBanc Capital Markets Inc., PNC Capital Markets LLC, Truist Securities Inc., Capital One Securities Inc., Citizens JMP Securities LLC, Mizuho Securities USA Inc., MUFG Securities Americas Inc., RBC Capital Markets LLC, Scotia Capital (USA) Inc., TD Securities (USA) LLC, U.S. Bancorp Investments Inc. and Wells Fargo Securities LLC are also bookrunners.
The notes carry an equity clawback of 40% and a 101 poison put.
Proceeds will be used to fund the tender offer for the company’s 5 7/8% senior notes due 2026.
Matador Resources is a Dallas-based oil and gas company.
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