Centennial resource development, inc. announces pricing of $150.0 million exchangeable senior notes offering

Denver, march 16, 2021 (globe newswire) -- centennial resource development, inc. (nasdaq: cdev) (the “company” or “centennial”) today announced the pricing of a public offering of $150,000,000 aggregate principal amount of 3.25% exchangeable senior notes due 2028 (the “notes”) of its wholly owned operating subsidiary, centennial resource production, llc (“crp”). the notes will be fully and unconditionally guaranteed, on a senior, unsecured basis, by centennial and its subsidiaries that currently guarantee crp's outstanding senior notes. the issuance and sale of the notes are scheduled to settle on march 19, 2021, subject to customary closing conditions. crp also granted the underwriters of the notes a 30-day option to purchase up to an additional $22,500,000 principal amount of notes, solely to cover over-allotments.
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