Rattler Midstream LP, a Subsidiary of Diamondback Energy, Inc., Prices $500 Million Offering of 5.625% Senior Notes
Retrieved on:
Thursday, July 9, 2020
Net proceeds to Rattler from the Notes Offering will be approximately $489.5 million.
Key Points:
- Net proceeds to Rattler from the Notes Offering will be approximately $489.5 million.
- Rattler intends to lend the proceeds from the Notes Offering to Rattler Midstream Operating LLC (the Rattler Operating Company).
- The Rattler Operating Company will use the proceeds from the Notes Offering to repay outstanding borrowings under its revolving credit facility.
- The Notes will be senior unsecured obligations of Rattler and initially will be guaranteed on a senior unsecured basis by the Rattler Operating Company, Tall City Towers LLC, Rattler OMOG LLC and Rattler Ajax Processing LLC, each a subsidiary of Rattler.