WPX Energy on deck with $500 million of senior notes due 2027

By Cristal Cody

Tupelo, Miss., Sept. 10 – WPX Energy, Inc. intends to price $500 million of senior notes due 2027 (BB-/BB-), according to a 424B5 filing with the Securities and Exchange Commission on Tuesday.

Bookrunners are BofA Securities, Inc., J.P. Morgan Securities LLC, MUFG, Credit Agricole Securities (USA) Inc., Wells Fargo Securities, LLC, Barclays and Citigroup Global Markets Inc.

RBC Capital Markets, LLC and TD Securities (USA) LLC are the lead managers.

Co-managers are BBVA Securities Inc., Scotia Capital (USA) Inc., U.S. Bancorp Investments, Inc., BB&T Capital Markets, Credit Suisse Securities (USA) Inc., Goldman, Sachs & Co. LLC, BOK Financial Securities, Inc., ABN Amro Securities (USA) LLC, Capital One Securities, Inc., CIBC World Markets Corp., ING Financial Markets LLC, PNC Capital Markets LLC and SunTrust Robinson Humphrey, Inc.

The deal includes a make-whole call and an equity clawback for up to 35% of the principal before 2022.

The notes will have a change-of-control put at 101%.

Proceeds will be used to fund the company’s tender offers of its 6% senior notes due 2022 and 8¼% notes due 2023 and for general corporate purposes.

WPX Energy is a Tulsa, Okla.-based oil and natural gas exploration and production company.

© 2015 Prospect News.
All content on this website is protected by copyright law in the U.S. and elsewhere. For the use of the person downloading only.
Redistribution and copying are prohibited by law without written permission in advance from Prospect News.
Redistribution or copying includes e-mailing, printing multiple copies or any other form of reproduction.