Past year: ▲ 69%(18.70 – 37.18 USD)
Each one in plain English, with the numbers worked through for a shareholder.
27 May 2015debt financing● NeutralMajor
SM Energy amended its credit agreement so its borrowing base would not be cut for the 2025 Senior Notes that are not Permitted Refinancing Debt, or for its pending Mid-Continent divestitures. The amendment also reduced the title information requirement to 63.75% of the borrowing base.
21 May 2015debt financing● Neutral
SM Energy closed its $500 million offering of 5.625% Senior Notes due 2025, funding the planned tender for its 6.625% Notes due 2019.
8 May 2015material agreement● Neutral
SM Energy agreed to sell $500 million of new 5.625% Senior Notes due 2025, with proceeds earmarked to tender for its 6.625% Notes due 2019 and pay down its credit facility.
28 Apr 2015debt financing● Neutral
SM Energy filed to register an exchange offer swapping its privately placed 6.125% Senior Notes due 2022 for SEC-registered notes with identical terms.
16 Dec 2014debt financing▲ Good
SM Energy amended its credit agreement to extend its maturity to December 2019, raise lender commitments to $1.5 billion, and lower its borrowing costs.
18 Nov 2014debt financing● Neutral
SM Energy raised $600 million in a private placement of new 6.125% Senior Notes due 2022.
30 July 2014material agreement▲ GoodMajor
SM Energy agreed to buy oil and gas properties in Divide and Williams Counties, North Dakota, near its Gooseneck area, from Baytex Energy for $330.5 million in cash. It also announced its second-quarter 2014 results.
9 May 2014debt financing● Neutral
The amendment brought the incorporated documents forward -- the first-quarter 2014 report and the April 2014 proxy in place of the 2013 one -- with the terms of the note exchange itself untouched.
17 Apr 2014dividend declaration▲ Good
SM Energy declared a semi-annual cash dividend of $0.05 per share, and announced that activist investor Mercy Investments withdrew a shareholder resolution on climate-change planning ahead of the 2014 annual meeting.
4 Mar 2014debt financing● Neutral
SM Energy filed to register an exchange offer swapping its outstanding 5% Senior Notes due 2024 for SEC-registered notes with identical terms, a routine step required after the notes' original private placement.
