Concho Resources Inc. Announces Pricing of Senior Unsecured Notes

MIDLAND, Texas--(BUSINESS WIRE)--Concho Resources Inc. (NYSE: CXO) (“Concho” or the “Company”) today announced that it has priced an offering of a total of $500 million aggregate principal amount of senior unsecured notes due 2031 (the “notes”). The notes will bear interest at a rate of 2.40% per annum and will be issued at 99.761% of par. The notes offering is expected to close on August 24, 2020, subject to the satisfaction of customary closing conditions. Concho intends to use the net proceeds from this offering for general corporate purposes, including, together with cash on hand, to redeem all of its outstanding 4.375% senior notes due 2025 (the “2025 notes”).