DALLAS, Dec. 12, 2016 /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 $450
million aggregate principal amount of 5.25% senior unsecured
notes due 2025 (the "Notes") at par. This represents an increase of
$100 million over the aggregate
principal amount previously announced. The private placement is
expected to close on December 27,
2016, subject to market and other customary closing
conditions.
The Company intends to use the net proceeds of approximately
$443.9 million to partially fund its
proposed acquisition of Silver Hill E&P II, LLC ("SHEP II"),
pursuant to the Membership Interest Purchase and Sale Agreement
dated October 13, 2016, by and among
the Company, RSP Permian, L.L.C., a wholly owned subsidiary of the
Company, SHEP II and Silver Hill Energy Partners II, LLC, the
parent entity of SHEP II. The Notes will be guaranteed on a senior
unsecured basis by two of the Company's existing subsidiaries, RSP
Permian, L.L.C. and Silver Hill Energy Partners, LLC, 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 and
Delaware Basins, sub-basins of the Permian Basin. The
Company's common stock is traded on the NYSE under the ticker
symbol "RSPP." 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 Annual Report on Form 10-K for 2015, 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.
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SOURCE RSP Permian, Inc.