Tulsa’s Vital Energy, Inc. announced it intends to offer $575 million in senior notes in a private placement to eligible purchasers.
Vital stated that it will use the net proceeds along with existing corporate liquidity to fund the purchase for cash of up to $475 million of its 10.125% senior notes due 2028 and $75 million of its 9.750% senior notes due 2030.
The $575 million offering is for senior notes due 2032.
The senior notes will be senior unsecured obligations of the Company and will be guaranteed on a senior unsecured basis by Vital Midstream Services, LLC, a subsidiary of the Company, and certain of its future subsidiaries.