AUSTIN, Texas, Dec. 12, 2016 /PRNewswire/ -- Parsley Energy, LLC ("Parsley"), a subsidiary of Parsley Energy, Inc. (NYSE: PE) ("Parsley Inc."), announced today that its previously announced cash tender offer to purchase any and all of its 7.500% senior unsecured notes due 2022 (the "2022 Notes") expired at 5:00 p.m., New York City time, on December 12, 2016 (the "Expiration Time"). As of the Expiration Time, $487,715,000 aggregate principal amount of the 2022 Notes (88.7%) were validly tendered, which excludes $1,222,000 aggregate principal amount of the 2022 Notes that remain subject to guaranteed delivery procedures. Parsley expects to accept for payment all such 2022 Notes validly tendered and not validly withdrawn in the tender offer and expects to make payment for the 2022 Notes on December 13, 2016, subject to Parsley's successful completion of its previously announced debt financing transaction (the "Financing Condition"). Concurrently with the launch of the tender offer, Parsley exercised its right to optionally redeem any 2022 Notes not validly tendered and purchased in the tender offer, pursuant to the terms of the Indenture relating to the 2022 Notes, conditioned upon and subject to satisfaction of the Financing Condition.
This news release does not constitute an offer to purchase or the solicitation of an offer to sell the securities described herein, nor shall there be any sale of these securities in any jurisdiction in which such an offer, solicitation or sale would be unlawful.
Certain statements contained in this news release constitute "forward-looking statements" within the meaning of the Private Securities Litigation Reform Act of 1995. These forward-looking statements represent Parsley's expectations or beliefs concerning future events, and it is possible that the results described in this news release will not be achieved. These forward-looking statements are subject to risks, uncertainties and other factors, many of which are outside of Parsley's control, which could cause actual results to differ materially from the results discussed in the forward-looking statements. Specifically, Parsley cannot assure you that the proposed transactions (including the proposed debt financing transaction) described above will be consummated on the terms Parsley currently contemplates, if at all. Any forward-looking statement speaks only as of the date on which it is made, and, except as required by law, Parsley does not undertake any obligation to update or revise any forward-looking statement, whether as a result of new information, future events or otherwise. New factors emerge from time to time, and it is not possible for Parsley to predict all such factors. When considering these forward-looking statements, you should keep in mind the risk factors and other cautionary statements found in Parsley Inc.'s filings with the Securities and Exchange Commission (the "SEC"), including, but not limited to, Parsley Inc.'s Annual Report on Form 10-K for the year ended December 31, 2015, and its subsequent Quarterly Reports on Form 10-Q and Current Reports on Form 8-K. The risk factors and other factors noted in Parsley Inc.'s SEC filings could cause actual results to differ materially from those contained in any forward-looking statement.
Brad Smith, Ph.D., CFA
Parsley Energy, LLC
Vice President, Corporate Strategy and Investor Relations
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SOURCE Parsley Energy, LLC