Pioneer subsidiary launches tender offers for $2.1 billion of 2030 and 2031 notes

ExxonMobil's subsidiary Pioneer Natural Resources Company offered to buy for cash any and all of its $1.1 billion 2030 1.900% notes and $1.0 billion 2031 2.150% notes. Pricing was set off the 4.375% Treasury due August 2031 plus fixed spreads of 30 basis points for the 2030 notes and 35 basis points for the 2031 notes. The offers expired on September 14, with no minimum tender amount.

• 2030 notes: $1.1 billion outstanding; spread 30 basis points over the reference Treasury
• 2031 notes: $1.0 billion outstanding; spread 35 basis points over the reference Treasury
• Expiration: September 14, 2026, 5:00 p.m. New York time
• Settlement expected September 16, 2026