On February 29, 2024, Diamondback entered into a term loan agreement with up to $1.5 billion ($1 billion Tranche A and $500 million Tranche B) on an unsecured basis, in connection with its acquisition of Endeavor Parent, LLC.

1. 01

   On February 29, 2024, Diamondback entered into a term loan agreement with up to $1.5 billion ($1 billion Tranche A and $500 million Tranche B) on an unsecured basis, in connection with its acquisition of Endeavor Parent, LLC.

2. 02

   The company said the Term Loan has not yet been funded and will be made in a single borrowing on the Closing Date, with Tranche A maturing on the 1st anniversary of the Closing Date and Tranche B on the 2nd anniversary.

3. 03

   The company said that under the fourteenth amendment, dated March 6, 2024, it increased total revolving loan commitments from $1.6 billion to $2.5 billion and decreased swingline commitments from $100 million to $50 million.

4. 04

   The company said the Term Loan bears a floating rate equal to either the alternate base rate or adjusted Term SOFR, at the Borrower's option, plus a margin based on its credit ratings, and that availability of the revolving commitment increase is subject to conditions, including the occurrence of the Funding Date.

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Original filing

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