M
ME NEWS
13 Jun 2025, 14:28
Diamondback Energy Extends Credit Facility Maturity and Reduces Borrowing Costs
Diamondback Energy, Inc. has amended its existing credit agreement with Wells Fargo and a syndicate of lenders, extending the maturity date from June 2028 to June 2030. The sixteenth amendment to the Second Amended and Restated Credit Agreement also lowers the applicable interest rates and fees.
Borrowings will now bear interest at either a term SOFR or alternate base rate, with margins ranging from 1.000% to 1.750% for SOFR loans and 0.000% to 0.750% for base rate loans, depending on the company’s credit ratings. Commitment fees on unused amounts will range from 0.100% to 0.250%.
All other terms of the credit agreement remain unchanged. The updated terms aim to enhance Diamondback’s capital efficiency while maintaining financial flexibility.
Diamondback Energy, Inc. has amended its existing credit agreement with Wells Fargo and a syndicate of lenders, extending the maturity date from June 2028 to June 2030. The sixteenth amendment to the Second Amended and Restated Credit Agreement also lowers the applicable interest rates and fees.
Borrowings will now bear interest at either a term SOFR or alternate base rate, with margins ranging from 1.000% to 1.750% for SOFR loans and 0.000% to 0.750% for base rate loans, depending on the company’s credit ratings. Commitment fees on unused amounts will range from 0.100% to 0.250%.
All other terms of the credit agreement remain unchanged. The updated terms aim to enhance Diamondback’s capital efficiency while maintaining financial flexibility.
