Parsley Energy, LLC’s $400 Million Senior Unsecured Notes Offering

Vinson & Elkins advised Parsley Energy, LLC and Parsley Finance Corp. in a previously announced private offering of $400 million in aggregate principal amount of 4.125% Senior Notes due 2028.

The offering closed on February 11, 2020.

Parsley Energy plans to use the net proceeds, as well as borrowing from its revolver credit, to redeem its outstanding 6.250% senior unsecured notes due 2024, issued by the company and Parsley Finance. The 2024 notes will be redeemed at a price of 104.688%, plus accrued and unpaid interest up to the expected redemption date of March 7. The redemption of the 2024 notes is conditioned on the completion of the 2028 notes offering.

The V&E corporate team was led by partners Doug McWilliams (Picture) and David Stone with assistance from senior associates Jessica Lewis and Jackson O’Maley and associates Maggie Webber and Markeya Scott. Also advising were partners Wendy Salinas and Lina Dimachkieh and associate Christine Mainguy; and partner Matthew Dobbins and associate Austin Pierce.

Involved fees earner: Lina Dimachkieh – Vinson & Elkins LLP; Matthew Dobbins – Vinson & Elkins LLP; Maggie Dunlap Webber – Vinson & Elkins LLP; Jessica Lewis – Vinson & Elkins LLP; Christine Mainguy – Vinson & Elkins LLP; Douglas McWilliams – Vinson & Elkins LLP; Jackson O’Maley – Vinson & Elkins LLP; Austin Pierce – Vinson & Elkins LLP; Markeya Scott – Vinson & Elkins LLP; David Stone – Vinson & Elkins LLP; Wendy Trahan Salinas – Vinson & Elkins LLP;

Law Firms: Vinson & Elkins LLP;

Clients: Parsley Energy, Inc.; Parsley Finance Corp;

Author: Ambrogio Visconti