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CM - WPX offers $900MM in notes, pays 27% of common for Felix - January 2020

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WPX Energy issued $900 million in new 4.5% senior unsecured notes due 2030 to cover the cash component of a $2.5 billion deal to buy Delaware Basin producer Felix Energy Holdings II. The larger $1.6 billion portion of the payment will be made in WPX common stock. WPX will net about $888.75 million in proceeds, which will be deposited into escrow. While the offering isn’t contingent upon the completion of the Felix purchase, the......
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