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Viper Energy Partners closes $500M senior note offering


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Viper Energy Partners closes $500M senior note offering

Viper Energy Partners LP on Oct. 16 closed its offering of $500 million of 5.375% senior notes due Nov. 1, 2027.

Viper loaned the proceeds to operating company Viper Energy Partners LLC, which will use them to repay outstanding debt under its revolving credit facility, according to an Oct. 17 SEC filing.

Interest on the notes accrues at a rate of 5.375% per annum until maturity in 2027 and is payable every May 1 and Nov. 1, starting May 1, 2020.

Viper may, at any time before Nov. 1, 2022, redeem all or a part of the notes at a price equal to 100% of the notes' amount plus a "make-whole" premium, or in an amount not exceeding 40% of aggregate principal amount of the notes at a redemption price of 105.375%, plus accrued and unpaid interest.

Wells Fargo Bank NA acted as the trustee for the indenture.

Viper is a subsidiary of Diamondback Energy Inc., which acquires and explores oil and gas reserves in the Permian Basin and the Eagle Ford Shale.