DENVER ~ Sitio Royalties Corp. (NYSE: STR) announced the pricing of $600 million in aggregate principal amount of senior unsecured notes due 2028 (the "Notes"). The size of the offering was increased from $500 million. The Notes will accrue interest at a rate of 7.875% per annum, will mature on November 1, 2028, and were priced at par.

The offering is expected to close on October 3, 2023, subject to customary closing conditions. The Issuers intend to use the net proceeds from the offering to (i) fund the redemption of all of the outstanding aggregate principal amount of the Partnership's senior unsecured notes due 2026 (the "Existing 2026 Notes," and such redemption, the "2026 Notes Redemption"), which is expected to occur concurrently with or shortly following the consummation of the offering, and (ii) repay a portion of the outstanding borrowings under the Partnership's revolving credit facility.

More on Colorado Desk

• Colorado: Governor Polis: Congressional Republicans Causing Devastating, Negative Impact From Passing One Big Budget-Busting Bureaucracy-Building Act
• Colorado: Governor Polis Celebrates 4th of July, Marking 249 Years of Independence From Monarchy and Tyranny
• $18 Price Target Issued in New Research Report After $34 Million Revenue Forecast from Acquisition; $101.5 Million Net Revenue in 2025; NAS DAQ: IQST
• West Dentistry Welcomes New Oral Surgeon to Enhance Patient Care
• The AML Shop Launches New Financial Investigations Unit, Appoints Director to Lead the Initiative

The securities offered have not been and will not be registered under the Securities Act of 1933, as amended (the "Securities Act"), or any state securities laws, and unless so registered, they may not be offered or sold in the United States except pursuant to an exemption from, or in a transaction not subject to, the registration requirements of the Securities Act and applicable state securities laws. The Notes are expected to be eligible for trading by qualified institutional buyers pursuant to Rule 144A under the Securities Act and by non-U.S. persons pursuant to Regulation S under the Securities Act. This announcement shall not constitute an offer to sell or a solicitation of an offer to buy any of these securities, except as required by law. This press release does not constitute a notice of redemption for the Existing 2026 Notes.

Sitio Royalties Corp., a shareholder returns-driven company focused on large-scale consolidation of high-quality oil & gas mineral and royalty interests across premium basins with a diversified set of top-tier operators announced today that it has priced $600 million in aggregate principal amount senior unsecured notes due 2028 at par with an interest rate 7.875% per annum maturing on November 1st 2028.

More on Colorado Desk

• Raidium révolutionne le diagnostic de la Sclérose en Plaques en partenariat avec l'Hôpital Fondation Adolphe de Rothschild
• New Podcast "Spreading the Good BUZZ" Hosted by Josh and Heidi Case Launches July 7th with Explosive Global Reach and a Mission to Transform Lives
• The Herbal Care, Led by Markel Bababekov, Becomes a Top Dispensary in NYC's Upper East Side
• Trump Administration Freezes $71 Million in Education Grants for Colorado, Hurting Students, Teachers, and the Economy
• Colorado Springs: City releases final parking and curb management plan

The offering is expected to close on October 3rd 2023 subject to customary closing conditions with net proceeds being used for redemption all outstanding aggregate principal amount senior unsecured notes due 2026 as well as repayment portion outstanding borrowings under Partnership's revolving credit facility.

The securities offered have not been registered under Securities Act 1933 nor any state securities laws thus can only be offered or sold in United States through exemption from registration requirements or transactions not subject thereto as well as eligible for trading by qualified institutional buyers pursuant Rule 144A under Securities Act and non-U.S persons pursuant Regulation S under Securities Act but this announcement shall not constitute an offer sell nor solicitation buy any such securities except required by law nor does it constitute notice redemption Existing 2026 Notes

---

Show All News | Report Violation