Southwestern Energy Company Closes $1.15 Bln Senior Notes Offering

Southwestern Energy Company (SWN) said Monday that it has completed it has its previously announced public offering of $1.15 billion aggregate principal amount of senior notes.

The notes consisted of $650 million aggregate principal amount of 7.500% senior notes due 2026 and $500 million aggregate principal amount of its 7.750% senior notes due 2027, with net proceeds from the Offering totaling approximately $1.13 billion after underwriting discounts and offering expenses.

The notes were sold to the public at a price of 100.000% of their face value for the 2026 notes and 100.000% of their face value for the 2027 notes.

The proceeds from the offering were used to repay in full and terminate the company’s Amended and Restated Term Loan Credit Agreement with various lenders and Bank of America, N.A., as administrative agent and lender, and the remaining net proceeds from the offering, together with cash on hand, will be used to fund the company’s previously announced tender offers and consent solicitation.

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