Coterra Energy (CTRA) said late Tuesday that it priced $750 million senior unsecured notes due 2035 at a 5.40% interest rate and $750 million senior unsecured notes due 2055 at a 5.90% interest rate.
Proceeds from the offerings, expected to close on Dec. 17, along with cash and borrowings, would fund the cash component of its acquisitions of Franklin Mountain Energy affiliates and Avant Natural Resources assets, the company said.
It added that both notes include special mandatory redemption clauses, subject to specific conditions if the acquisitions are not completed.
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