Diamondback Energy prices tender offers for senior notes

Diamondback Energy Inc. (NASDAQ: FANG) announced pricing for its tender offers to purchase all outstanding 4.400% Senior Notes due 2051 and 4.250% Senior Notes due 2052, according to a company statement.

The company will pay $825.60 per $1,000 principal amount for the 2051 notes, which have $386.4 million in aggregate principal outstanding. For the 2052 notes, with $605.3 million outstanding, Diamondback will pay $802.42 per $1,000 principal amount.

The tender offers expire at 5:00 p.m. New York time on April 10, 2026. The company expects to settle the transaction on April 13, 2026, paying both the consideration and accrued interest to noteholders who validly tender their securities.

Both note series use the 4.625% U.S. Treasury due November 15, 2055 as the reference security, with a reference yield of 4.921% and an 80 basis point fixed spread. The offers are not conditional on any minimum amount of notes being tendered.

TD Securities, BofA Securities, Citigroup and Wells Fargo Securities serve as dealer managers for the transaction. D.F. King & Co. acts as tender and information agent.

Noteholders can withdraw tendered notes until the expiration date. The company may amend, extend or terminate either offer at its discretion, subject to applicable law.

Diamondback is an independent oil and natural gas company headquartered in Midland, Texas, focused on unconventional operations primarily in the Permian Basin.

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