(RTTNews) - Matador Resources Co. (MTDR) announced on Friday its plan to issue $750 million senior unsecured notes maturing in 2033, through a private placement.
The company intends to use the proceeds from the offering to pay off outstanding borrowings from its credit facility, including the entire $250 million owed on its term loan.
Initial purchasers may resell the Notes to qualified institutional buyers and non-U.S. persons outside the United States, adhering to specific regulations.
In pre-market activity on the NYSE, the shares are trading at $52.87, up 1.28%.
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