#United States #Senior Notes #Houston #Cash Tender #Chord Energy

Chord Energy Corporation's Tender Offer for Senior Notes

On March 10, 2025, Chord Energy Corporation (NASDAQ: CHRD) disclosed its pricing for a cash tender offer, which is designed to purchase all outstanding 6.375% senior notes due in 2026. This initiative reflects the company's strategic focus on optimizing its capital structure, aligning with its operations in the booming oil sector of the Williston Basin.

Offer Details

The cash tender offer is open to holders of the senior notes, and it will allow them to sell their notes back to the company at a predetermined price. As per the announced details, the consideration for the 6.375% senior notes will be set at $1,002.91 per $1,000 principal amount, which equates to a yield of 4.428% based on the U.S. Treasury reference security.

Reference Yield and Notes

Here are the specifics of the notes:

• - Series of Notes: 6.375% Senior Notes due 2026
• - CUSIP Numbers: 674215AL2 / U65204AD8
• - Aggregate Principal Amount Outstanding: $400 million
• - U.S. Treasury Reference Security: 4.250% due May 31, 2025
• - Fixed Spread: 50 bps

It is important to note that this offer is not contingent upon a minimum number of notes being tendered, providing flexibility for current holders. The offer is set to expire at 5:00 PM New York City time on the same day.

How to Participate in the Offer

To benefit from the offer, holders must tender their notes or submit a Notice of Guaranteed Delivery before the expiration deadline. On tendered notes, accrued interest will be credited from the last payment date to the settlement date, which is expected to occur shortly after the expiration.

Holders choosing to utilize the guaranteed delivery procedure must ensure all documentation is completed by the second business day following the expiration date, which extends the tender submission window a bit longer.

About Chord Energy Corporation

Chord Energy is an independent exploration and production company with substantial assets focused on oil-rich resources in the continental U.S. The company emphasizes capital discipline while aiming to generate free cash flow through efficient operations. Its strong balance sheet positions it as a formidable player in the energy sector.

For those interested in the full details of the tender offer, the company encourages review of the Offer to Purchase document, which outlines all terms and associated conditions. Furthermore, the offer is solely being made through this official document, emphasizing the importance for holders to read it carefully before making any decisions.

Conclusion

With this cash tender offer, Chord Energy Corporation showcases its commitment to financial prudence while enhancing its capital management. For further inquiries or detailed explanations regarding the tender process, stakeholders can reach out to the designated representatives at Wells Fargo Securities, LLC, or the Global Bondholder Services Corporation as specified in the release.

This announcement stands as a key development for Chord Energy as it continues to navigate the evolving landscape of the oil and gas industry, balancing growth with strategic financial management.