Permian Resources Corporation (Permian Resources) (NYSE: PR) announced that Permian Resources Operating, LLC (the Issuer), a subsidiary of Permian Resources, has priced its previously announced private placement pursuant to Rule 144A and Regulation S under the Securities Act of 1933, as amended, to eligible purchasers of US$1 billion aggregate principal amount of 6.25% senior notes due 2033 (the Notes). This offering was upsized from an initial offering size of US$750 million aggregate principal amount. Concurrently, Permian Resources, commenced a cash tender offer (the Tender Offer) to purchase any and all of the Issuer’s outstanding senior notes listed in the Issuer’s Offer to Purchase, dated July 29, 2024 (the Offer to Purchase).
Latham & Watkins LLP represents the initial purchasers in the offering of Notes and the dealer manager in the Tender Offer with a corporate team led by Houston partner John Greer, Austin partner David Miller, and Houston counsel Thomas Verity, with associates Sydney Verner, Brian Bruzzo, Caitlyn Fiebrich, Carol Bale, and Armaan Bhimani. Advice was also provided on tax matters by Houston partner Jim Cole, with associate Dylan White; and on environmental matters by Los Angeles/Houston partner Josh Marnitz, with associate Jacqueline Zhang.
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