Coterra Energy Announces Pricing of Senior Unsecured Notes
28 Februar 2024 - 11:39PM
Business Wire
Coterra Energy Inc. (“Coterra”) (NYSE: CTRA) announced
today that it has priced an offering of $500 million aggregate
principal amount of senior unsecured notes due 2034, which will
carry an interest rate of 5.60%. The offering is expected to close
on March 13, 2024, subject to the satisfaction of customary closing
conditions. This is Coterra’s first debt offering since
transactions completed in connection with the merger of Cabot Oil
& Gas Corporation and Cimarex Energy Co.
Coterra intends to use the net proceeds from the offering,
together with cash on hand, to fund the repayment at, or prior to,
maturity of the $575 million outstanding principal amount (and any
other amounts due thereon) of its 3.67% Series L Senior Notes due
September 18, 2024.
J.P. Morgan Securities LLC, TD Securities (USA) LLC, Wells Fargo
Securities, LLC and BofA Securities, Inc. are acting as
book-running managers for the offering. When available, copies of
the prospectus supplement and the accompanying base prospectus
relating to the offering can be obtained without charge from the
Securities and Exchange Commission (“SEC”) at www.sec.gov.
Alternatively, copies of these documents can be obtained from J.P.
Morgan Securities LLC at 383 Madison Avenue, New York, NY 10179,
Attention: Investment Grade Syndicate Desk, 3rd Floor, or via phone
at 1-212-834-4533; TD Securities (USA) LLC at 1 Vanderbilt Avenue,
11th Floor, New York, NY 10017, or via phone at 1-855-495-9846;
Wells Fargo Securities, LLC at 608 2nd Avenue South, Suite 1000,
Minneapolis, MN 55402, Attention: WF Customer Services, Toll-Free:
1-800-645-3751; or BofA Securities, Inc. at 201 North Tryon Street,
NC1-022-02-25, Charlotte, NC 28255-0001, Attention: Prospectus
Department, or via phone at 1-800-294-1322.
The notes are being offered and will only be sold pursuant to an
effective registration statement that was previously filed with the
SEC. This press release does not constitute an offer to sell nor a
solicitation of an offer to buy any of the notes described herein,
nor shall there be any sale of these notes in any state or
jurisdiction in which such offer, solicitation or sale would be
unlawful prior to registration or qualification under the
securities laws of such state or jurisdiction.
About Coterra Energy
Coterra is a premier exploration and production company based in
Houston, Texas with focused operations in the Permian Basin,
Marcellus Shale, and Anadarko Basin. We strive to be a leading
energy producer, delivering sustainable returns through the
efficient and responsible development of our diversified asset
base.
Cautionary Statement Regarding Forward-Looking
Information
This press release contains certain forward-looking statements
within the meaning of federal securities laws. Forward-looking
statements are not statements of historical fact and reflect
Coterra's current views about future events. Such forward-looking
statements include, but are not limited to, statements about the
offering and the use of proceeds therefrom and other statements
that are not historical facts contained in this press release. The
words "expect," "project," "estimate," "believe," "anticipate,"
"intend," "budget," "plan," "predict," "potential," "possible,"
"may," "should," "could," "would," "will," "strategy," "outlook"
and similar expressions are also intended to identify
forward-looking statements. We can provide no assurance that the
forward-looking statements contained in this press release will
occur as projected and actual results may differ materially from
those projected. Forward-looking statements are based on current
expectations, estimates and assumptions that involve a number of
risks and uncertainties that could cause actual results to differ
materially from those projected. These risks and uncertainties
include, without limitation, those described in “Risk Factors” in
Part I. Item 1A in Coterra’s Annual Report on Form 10-K for the
fiscal year ended December 31, 2023, and those identified from time
to time in Coterra’s other filings with the SEC.
Forward-looking statements are based on the estimates and
opinions of management at the time the statements are made. Except
to the extent required by applicable law, Coterra does not
undertake any obligation to publicly update or revise any
forward-looking statement, whether as a result of new information,
future events or otherwise. Readers are cautioned not to place
undue reliance on these forward-looking statements that speak only
as of the date hereof.
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version on businesswire.com: https://www.businesswire.com/news/home/20240228939389/en/
Investor Contact Daniel Guffey – Vice President of
Finance, Planning & Analysis and Investor Relations
281.589.4875 Hannah Stuckey – Investor Relations Manager
281.589.4983
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