DALLAS, Sept. 23, 2014 /PRNewswire/ -- RSP Permian, Inc.
("RSP" or the "Company") (NYSE: RSPP) announced today the
pricing of its private placement to eligible purchasers under Rule
144A and Regulation S of the Securities Act of 1933, as amended
(the "Securities Act"), of $500
million aggregate principal amount of 6.625% senior
unsecured notes due 2022 (the "Notes") at par. This represents an
increase of $50 million over the
aggregate principal amount previously announced. The
private placement is expected to close on September 26, 2014, subject to market and other
customary closing conditions.
The Company intends to use the net proceeds of approximately
$488.6 million to repay amounts drawn
under its revolving credit facility and the balance for general
corporate purposes. The Notes will be guaranteed on a senior
unsecured basis by the Company's only existing subsidiary, RSP
Permian, L.L.C., and certain future subsidiaries.
The securities to be sold have not been registered under the
Securities Act or any state securities laws, and unless so
registered, the securities 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 in the United States under Rule 144A under the
Securities Act and outside the United
States pursuant to Regulation S under the Securities
Act.
This press release is being issued pursuant to Rule 135c under
the Securities Act and is neither an offer to sell nor a
solicitation of an offer to buy the Notes or any other securities
and shall not constitute an offer to sell or a solicitation of an
offer to buy, or a sale of, the Notes or any other securities in
any jurisdiction in which such offer, solicitation or sale is
unlawful.
About RSP Permian, Inc.
RSP is an independent oil and natural gas company focused on the
acquisition, exploration, development and production of
unconventional oil and associated liquids-rich natural gas reserves
in the Permian Basin of West
Texas. The vast majority of RSP's acreage is located on
large, contiguous acreage blocks in the core of the Midland Basin, a sub-basin of the Permian
Basin, primarily in the adjacent counties of Midland, Martin, Andrews, Dawson, Ector
and Glasscock. For more information, visit
www.rsppermian.com.
Forward-Looking Statements
This news release contains forward-looking statements within the
meaning of the federal securities laws. All statements, other than
historical facts, that address activities that RSP assumes, plans,
expects, believes, intends or anticipates (and other similar
expressions) will, should or may occur in the future are
forward-looking statements. Forward-looking statements are based on
management's current beliefs, based on currently available
information, as to the outcome and timing of future events. These
forward-looking statements involve certain risks and uncertainties
that could cause the results to differ materially from those
expected by the management of RSP. Information concerning these
risks and other factors can be found in RSP's filings with the SEC,
including its Form 10-K, which can be obtained free of charge on
the SEC's web site located at http://www.sec.gov. RSP undertakes no
obligation to update or revise any forward-looking statement.
SOURCE RSP Permian, Inc.