Senior note offering report from Vital Energy

Vital Energy, Inc., in Tulsa reported it had received more than $628 million in cash tender offers for a series of senior notes made available some weeks ago.

Based on information provided by the Global Bondholder Services Corporation, Vital said that as of 5 p.m. on March 27, it had received tenders of $431,150,000 for 2028 notes representing 61.57% of the aggregate principal amount of oustanding of the 2028 notes. It also had received $197,636,000 for its 2030 notes representing 39.53% of the 2030 notes.

Vital had offered up to $550 million of a variety of notes including 10.125% senior notes due 2028 and 9.750% senior notes due 2030.

Subject to satisfaction of the conditions to the Tender Offers, including settlement of the previously announced offering of $800.0 million aggregate principal amount of 7.875% senior notes due 2032, which is scheduled for March 28, 2024, Vital expects the Early Settlement Date for the 2028 Notes to be March 29, 2024 and expects the Early Settlement Date for the 2030 Notes to occur during the week of April 1, 2024.