Southwestern Energy wraps up purchase of $900 million in senior notes

Southwestern Energy Company, a Texas based firm with natural gas exploration operations in northern Arkansas, West Virginia and Pennsylvania announced the results and increase in its offers to buy $900 million in senior notes.

The Spring, Texas based company said the offer was increased to $901,728,320 allowing the purchase of  senior notes due in 2020, 2025, 2026 and 2027.

The lowest interest on the notes was 4.10% for those due 2022 while the highest was 7.75% senior notes due 2027.

The purchase included $787,200,000 for the 4.10% notes due 2022 and $218,600,000 for 4.95% senior notes due 2025.

The purchase came two years after Moody’s and S and P downgraded certain senior notes of the company, increasing the interest  rates by 175 basins point. But in May of this year, S and P and Moody’s upgraded some of the senior notes decreasing the interest rates by 50 basis points.