SM Energy Prices Upsized $1 Billion Senior Notes Due 2034 Offering

SM Energy has priced an upsized private offering of $1.0 billion of 6.625% senior notes due 2034. The company intends to use the net proceeds to fund its previously announced offer to purchase up to $750 million of its outstanding 8.375% senior notes due 2028. The offering is expected to close on March 9, 2026, subject to customary closing conditions.

SM Energy Company (NYSE: SM) has priced an upsized private offering of $1.0 billion aggregate principal amount of 6.625% senior notes due 2034, with the offering expected to close on March 9, 2026, subject to customary conditions according to the company's announcement. The notes will be issued at par and are part of a strategic effort to refinance existing debt. The company plans to allocate approximately $750 million of the net proceeds toward its previously announced tender offer for up to $750 million of its outstanding $1.35 billion principal amount of 8.375% senior notes due 2028, with remaining funds reserved for general corporate purposes, including further repayment of the 2028 notes as reported in the press release.

The offering is structured as a private placement and is not registered under the Securities Act of 1933 or applicable state securities laws. Instead, the notes will be issued under exemptions for qualified institutional buyers (Rule 144A) and non-U.S. persons (Regulation S) as detailed in the announcement. Investors are cautioned that the press release does not constitute an offer to sell or purchase securities and emphasizes compliance with jurisdiction-specific legal requirements according to the company's disclosure.

SM Energy, an independent energy firm operating in Colorado, New Mexico, Texas, and Utah, disclosed that forward-looking statements in the announcement are subject to risks, including market conditions and uncertainties related to the tender offer's execution as stated in the announcement. The company routinely discloses material information on its website, with additional details available in its SEC filings, including annual (Form 10-K) and quarterly (Form 10-Q) reports according to company disclosures.

This transaction reflects SM Energy's ongoing efforts to optimize its capital structure amid evolving market dynamics.