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Fundraising - JUNE 10, 2021

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SM Energy Company launches $400m public offering

by Kali Persall

SM Energy Company, a Colorado-based company engaged in hydrocarbon exploration, has priced an offering of $400 million in aggregate principal amount of its 6.5 percent senior unsecured notes due 2028. The aggregate principal amount of the offering was increased from the previously announced offering size of $350 million.

SM Energy is an independent exploration and production company with assets in the Eagle Ford Group and the Permian Basin.

SM Energy intends to use the net proceeds from the offering to fund a cash tender offer for all of its outstanding 6.125 percent senior notes due 2022 and a portion of its outstanding 5 percent senior notes due 2024.

If the tender offer is not subscribed in full, SM Energy intends to use the net proceeds from the offering for general corporate purposes, which may include the repurchase or redemption of some or all of the tender offer notes.

The offering is expected to close on June 23, subject to customary closing cond

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