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Sitio Royalties ( NYSE: STR ) unit Sitio Royalties Operating Partnership, LP and Sitio Finance plans to offer and sell $500M in aggregate principal amount of senior unsecured notes due 2028.
Net proceeds will be used to fund the redemption of all of the outstanding aggregate principal amount of the Partnership’s senior unsecured notes due 2026 and repay a portion of the outstanding borrowings under the Partnership’s revolving credit facility.