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XPLR Infrastructure (NYSE: XIFR) has announced the pricing of a $1,750 million senior unsecured notes offering through its subsidiary XPLR OpCo. The offering includes $825 million of 8.375% notes due 2031 and $925 million of 8.625% notes due 2033.
The company expects net proceeds of approximately $1,724.4 million after deducting costs. The funds will be used to:
- Fund repowering capital expenditures
- Repay outstanding debt, including convertible senior notes due November 2025
- Repay revolving credit facility borrowings
- Make investments in clean energy projects
- Exercise buyout rights relating to noncontrolling class B members' interests
The notes will be guaranteed by XPLR Infrastructure, LP and XPLR Infrastructure US Partners Holdings, The offering is expected to close on March 25, 2025, subject to customary conditions.
XPLR Infrastructure, LP (NYSE: XIFR) has announced a private offering of $1,400 million in senior unsecured notes through its subsidiary XPLR Infrastructure Operating Partners, LP. The offering includes notes due in 2031 and 2033.
The proceeds will be used to:
- Fund repowering capital expenditures
- Repay outstanding debt, including the 0.00% convertible senior notes due November 2025
- Make investments to improve and expand existing portfolio
- Exercise buyout rights relating to noncontrolling class B members' interests
- Fund investments in clean energy projects or assets
The notes are being offered exclusively to qualified institutional buyers under Rule 144A and certain non-U.S. persons under Regulation S of the Securities Act. The offering has not been registered under the Securities Act of 1933.
