WPX Launches $400 million in Offering of Notes

Tulsa’s WPX Energy has launched a $400 million offering of senior unsecured notes to fund a like amount of other senior notes.

The company announced Wednesday the offer is for unsecured notes due 2026.

It will use the money to fund the purchase of up to $400 million of its outstanding 6.000% Senior Notes due 2022 and 8.250% Senior Notes due 2023 through cash tender offers and the planned redemption of its outstanding 7.500% Senior notes due 2020.

WPX Energy said any excess net proceeds will be used for general corporate purposes including the repayment or redemption of outstanding indebtedness.

Citigroup and BofA Merrill Lynch are acting as lead book-running managers.