Centennial Resource Production’s $400 Million Notes Offering

Simpson Thacher represented the initial purchasers, led by J.P. Morgan Securities LLC, Wells Fargo Securities, LLC and RBC Capital Markets, LLC, in connection with a Rule 144A and Reg S offering of $400 million aggregate principal amount of 5.375% Senior Notes due 2026 by Centennial Resource Production, LLC, a subsidiary of Centennial Resource Development, Inc. (“Centennial”) (NASDAQ: CDEV).

The net proceeds will be used to repay revolving credit facility borrowings, with any remaining proceeds to be used for general corporate purposes.

Centennial is an independent oil and natural gas company focused on the development of unconventional oil and associated liquids-rich natural gas reserves in the Permian Basin. Centennial’s assets and operations, which are held and conducted through Centennial Resource Production, LLC, are concentrated in the Delaware Basin, a sub-basin of the Permian Basin.

The Simpson Thacher team included Art Robinson (Picture), Brian E. Rosenzweig, Davis Mahon and Andrew Mandelbaum (Capital Markets); Michael Isby and Louise Kruger (Environmental); Alisa Tschorke (Executive Compensation and Employee Benefits); Jennie Getsin (Blue Sky); Marcela Robledo (Intellectual Property); and Jonathan Cantor and Deborah Plum (Tax).

Involved fees earner: Arthur Robinson – Simpson Thacher & Bartlett; Brian Rosenzweig – Simpson Thacher & Bartlett; Davis Mahon – Simpson Thacher & Bartlett; Andrew Mandelbaum – Simpson Thacher & Bartlett; Michael Isby – Simpson Thacher & Bartlett; Louise Kruger – Simpson Thacher & Bartlett; Alisa Tschorke – Simpson Thacher & Bartlett; Jennie Getsin – Simpson Thacher & Bartlett; Marcela Robledo – Simpson Thacher & Bartlett; Jonathan Cantor – Simpson Thacher & Bartlett; Deborah Plum – Simpson Thacher & Bartlett;

Law Firms: Simpson Thacher & Bartlett;

Clients: RBC Capital Markets; JP Morgan Securities; Wells Fargo Securities;

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Author: Ambrogio Visconti