Magnolia Oil & Gas Operating and Magnolia Oil & Gas Finance Corp. have priced a private offering of $500 million in aggregate principal amount of 6.625% senior unsecured notes due 2034. The closing is expected on August 5, 2026, subject to customary conditions. The issuers plan to use the net proceeds, together with proceeds from a recently closed Class A common stock offering by Magnolia Oil & Gas Corporation, borrowings under their revolving credit facility, and cash on hand, to fund the cash consideration for the pending acquisition of WildFire Intermediate Holdings, LLC. The notes are being offered only to qualified institutional buyers under Rule 144A and to non-U.S. persons under Regulation S.
Magnolia Oil & Gas CorpThe company is issuing $500M senior notes to fund an acquisition; debt issuance is neutral to negative but acquisition use could be positive, overall mixed.