XPLR Infrastructure (XIFR) said Thursday it priced a $1.75 billion private offering of senior unsecured notes to be issued by its direct subsidiary, XPLR Infrastructure Operating Partners.
The offering comprises $825 million of 8.375% senior unsecured notes due 2031 and $925 million of 8.625% senior unsecured notes due 2033.
The subsidiary expects to use the proceeds to fund repowering capital expenditures and repay outstanding debt, including the 0.00% convertible senior notes due in November 2025 and outstanding borrowings under its revolving credit facility.
The offering will likely close on March 25.
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