Centennial resource development, inc. announces proposed exchangeable senior notes offering

Denver, march 15, 2021 (globe newswire) -- centennial resource development, inc. (nasdaq: cdev) (the “company” or “centennial”) today announced its intention to offer, subject to market and other conditions, $150,000,000 aggregate principal amount of exchangeable senior notes due 2028 (the “notes”) of its wholly owned operating subsidiary, centennial resource production, llc (“crp”), in a public offering registered under the securities act of 1933, as amended. the notes will be fully and unconditionally guaranteed, on a senior, unsecured basis, by centennial and crp's subsidiaries that currently guarantee crp's outstanding senior notes. crp expects to grant 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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