CPE - CPE prices offering of $600M senior notes

Callon Petroleum (NYSE:CPE) has priced its private offering of $600M aggregate principal amount of its 7.500% senior unsecured notes due 2030. Offering is expected to close on June 24, 2022. Net proceeds from the offering, along with borrowings under the senior secured revolving credit facility, are likely to be used to redeem all $460.2M of the company's existing 6.125% Senior Notes due 2024 and all $319.7 million of its existing 9.00% Second Lien Senior Secured Notes due 2025. The 2024 Notes and the Second Lien Notes will be redeemable on July 9, 2022, which redemptions will settle on July 11, 2022. The redemption price of the 2024 Notes is equal to 101.531% of the aggregate principal amount outstanding, plus accrued and unpaid interest to the applicable redemption date. CPE shares marginally down (-0.51%) in extended trading

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CPE prices offering of $600M senior notes