Magnolia Oil & Gas closes USD 500 million 6.625% senior notes offering due 2034
MGY•Key terms of the notes
The notes mature Aug. 15, 2034. Interest at 6.625% starts Feb. 15, 2027 with semiannual payments.
If the acquisition does not close by March 19, 2027 or is abandoned before then, the notes are subject to mandatory redemption at issue price.
Change-of-control protection
A change of control triggers a holder put at 101% of principal, excluding accrued interest.
Senior notes offering closes
Magnolia Oil & Gas closed a private offering of USD 500 million 6.625% senior notes due 2034.
Proceeds are earmarked for the cash portion of the planned WildFire Intermediate Holdings acquisition, alongside equity proceeds, revolver borrowings and cash on hand.
