Expand Energy Corporation Announces Pricing of Notes Offering

OKLAHOMA CITY, Nov. 21, 2024 (GLOBE NEWSWIRE)

Important Details of the Offering:

Expand Energy Corporation (NASDAQ: EXE) has announced the pricing of its offering, known as the Notes Offering. The company will be offering $750,000,000 aggregate principal amount of its 5.700% senior notes due 2035 at a price to the public of 99.609% of their face value. The Notes Offering is expected to close on December 2, 2024, subject to the satisfaction of customary closing conditions.

Expand Energy plans to utilize the net proceeds from the Notes Offering, in conjunction with cash on hand, to fund the purchase for cash of any and all of its outstanding 5.500% senior notes due 2026 that are tendered in connection with the Tender Offer launched on November 20, 2024. Additionally, the company will use the proceeds for the redemption of all outstanding 8.375% Senior Notes due 2028, including the payment of related accrued and unpaid interest, premiums, fees, and expenses. Any remaining proceeds not allocated for the Tender Offer or Redemption will be used for general corporate purposes.

Impact on Individuals:

As an individual investor, this announcement may impact your investment portfolio if you hold shares in Expand Energy Corporation. The Notes Offering and subsequent actions will influence the company’s financial standing, potentially affecting the stock price and dividends distributed to shareholders. It is advisable to stay informed about these developments to make informed decisions regarding your investment in the company.

Global Impact:

The pricing of the Notes Offering by Expand Energy Corporation reflects the company’s strategic financial decisions and long-term planning. As a prominent energy corporation, Expand Energy’s actions in the market can have a ripple effect worldwide, influencing trends in the energy sector and financial markets. This announcement may garner attention from investors, analysts, and industry experts globally, shaping discussions on investment strategies and the future of energy companies.

Conclusion:

Expand Energy Corporation’s pricing of the Notes Offering signifies a significant step in the company’s financial strategy. With plans to utilize the proceeds for various purposes, including the purchase of outstanding notes and general corporate use, Expand Energy aims to strengthen its financial position and drive future growth. As stakeholders, it is essential to monitor the impact of these actions on the company’s performance and the broader energy sector to make informed decisions moving forward.