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EX-99.1 - EX-99.1 - RSP Permian, Inc.a14-21324_1ex99d1.htm
EX-10.1 - EX-10.1 - RSP Permian, Inc.a14-21324_1ex10d1.htm

 

 

UNITED STATES
SECURITIES AND EXCHANGE COMMISSION

Washington, D.C. 20549

 


 

FORM 8-K

 

CURRENT REPORT

Pursuant to Section 13 OR 15(d) of the
Securities Exchange Act of 1934

 

Date of Report (Date of earliest event reported): September 23, 2014

 


 

RSP PERMIAN, INC.

(Exact name of registrant as specified in its charter)

 


 

Delaware

 

001-36264

 

90-1022997

(State or Other Jurisdiction
of Incorporation)

 

(Commission
File Number)

 

(I.R.S. Employer
Identification No.)

 

3141 Hood Street, Suite 500
Dallas, Texas 75219

(Address of Principal Executive Offices)
(Zip Code)

 

(214) 252-2700

(Registrant’s Telephone Number, Including Area Code)

 


 

Check the appropriate box below if the Form 8-K filing is intended to simultaneously satisfy the filing obligation of the registrant under any of the following provisions:

 

o            Written communications pursuant to Rule 425 under the Securities Act (17 CFR 230.425)

 

o            Soliciting material pursuant to Rule 14a-12 under the Exchange Act (17 CFR 240.14a-12)

 

o            Pre-commencement communications pursuant to Rule 14d-2(b) under the Exchange Act (17 CFR 240.14d-2(b))

 

o            Pre-commencement communications pursuant to Rule 13e-4(c) under the Exchange Act (17 CFR 240.13e-4(c))

 

 

 



 

Item 1.01      Entry into Material Definitive Agreement

 

Purchase Agreement

 

On September 23, 2014, RSP Permian, Inc. (the “Company”) entered into a Purchase Agreement (the “Purchase Agreement”) by and among the Company, the subsidiary guarantor named therein (the “Guarantor”) and Barclays Capital Inc. and RBC Capital Markets, LLC, as representatives of the several initial purchasers (the “Initial Purchasers”), pursuant to which the Company agreed to issue and sell to the Initial Purchasers $500.0 million aggregate principal amount of the Company’s 6.625% senior unsecured notes due 2022 (the “Notes”). The Notes will be sold at par and will result in net proceeds to the Company of approximately $488.6 million.

 

The Notes will be issued and sold to the Initial Purchasers pursuant to an exemption from the registration requirements of the Securities Act of 1933, as amended (the “Securities Act”), pursuant to Section 4(a)(2) thereunder. The Initial Purchasers intend to resell the Notes (i) inside the United States to “qualified institutional buyers,” as defined in Rule 144A under the Securities Act (“Rule 144A”) in private sales exempt from registration under the Securities Act in accordance with Rule 144A, and (ii) to other eligible purchasers pursuant to offers and sales that occur outside the United States within the meaning of Regulation S under the Securities Act (“Regulation S”) in accordance with Regulation S. The Notes have not been registered under the Securities Act or applicable state securities laws and may not be offered or sold in the United States absent registration or an applicable exemption from the registration requirements of the Securities Act and applicable state laws.

 

The Purchase Agreement contains customary representations and warranties of the parties and indemnification and contribution provisions under which the Company and the Guarantor, on the one hand, and the Initial Purchasers, on the other, have agreed to indemnify each other against certain liabilities, including liabilities under the Securities Act.

 

Relationships

 

The Initial Purchasers and certain of their affiliates have, from time to time, performed, and may in the future perform, various commercial and investment banking and financial advisory services for the Company and its affiliates, for which they received or may in the future receive customary fees and expenses. In particular, affiliates of certain of the Initial Purchasers are lenders under the Company’s revolving credit facility and will therefore receive their respective share of repayment by the Company of amounts outstanding under the Company’s revolving credit facility from the Company’s net proceeds to be received from the sale of the Notes. Additionally, an affiliate of U.S. Bancorp Investments, Inc., one of the Initial Purchasers, will serve as trustee under the indenture governing the Notes.

 

A copy of the Purchase Agreement is filed as Exhibit 10.1 to this Form 8-K and is incorporated herein by reference. The description of the Purchase Agreement in this report is a summary and is qualified in its entirety by the terms of the Purchase Agreement.

 

Item 2.03                   Creation of a Direct Financial Obligation or an Obligation under an Off-Balance Sheet Arrangement of a Registrant.

 

The information included in Item 1.01 of this Current Report on Form 8-K is incorporated by reference into this Item 2.03 of this Current Report on Form 8-K.

 

Item 8.01      Other Information

 

On September 23, 2014, the Company issued a press release announcing the pricing of its private placement of the Notes. The Company is filing a copy of the press release as Exhibit 99.1 hereto, which is incorporated by reference into this Item 8.01.

 

The press release shall not constitute an offer to sell or the solicitation of an offer to buy, nor shall there be any sale of these securities in any state in which the offer, solicitation or sale would be unlawful prior to the registration or qualification under the securities laws of any such state.

 

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Item 9.01 Financial Statements and Exhibits.

 

(d)   Exhibits.

 

Exhibit No.

 

Description

 

 

 

10.1

 

Purchase Agreement dated as of September 23, 2014 by and among the Company, the Guarantor and Barclays Capital Inc. and RBC Capital Markets, LLC, as representatives of the several initial purchasers.

 

 

 

99.1

 

News Release, dated September 23, 2014, titled “RSP Permian, Inc. Announces Pricing of Upsized $500 Million Placement of Senior Unsecured Notes.”

 

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SIGNATURES

 

Pursuant to the requirements of the Securities Exchange Act of 1934, the Registrant has duly caused this report to be signed on its behalf by the undersigned hereunto duly authorized.

 

 

 

RSP PERMIAN, INC.

 

 

 

 

 

 

By:

/s/ James E. Mutrie

 

 

James E. Mutrie

 

 

General Counsel and Vice President

 

 

 

 

 

 

Dated: September 23, 2014

 

 

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EXHIBIT INDEX

 

Exhibit No.

 

Description

 

 

 

10.1

 

Purchase Agreement dated as of September 23, 2014 by and among the Company, the Guarantor and Barclays Capital Inc. and RBC Capital Markets, LLC, as representatives of the several initial purchasers.

 

 

 

99.1

 

News Release, dated September 23, 2014, titled “RSP Permian, Inc. Announces Pricing of Upsized $500 Million Placement of Senior Unsecured Notes.”

 

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