Apache Corporation said that it has priced $2 billion in aggregate principal amount of notes in a public offering comprising $1.2 billion principal amount of 2.625% notes due in 2023 and $800 million principal amount of 4.25% notes due in 2044.
Apache intends to use the net proceeds from the offering to repay outstanding commercial paper borrowings and for general corporate purposes.
Net proceeds to Apache, after deducting the underwriting discounts and estimated offering expenses payable by Apache, are expected to be approximately $1.97 billion. The offering is expected to close on December 3, 2012, subject to the satisfaction of customary closing conditions.
Joint book-running managers for the offering are BofA Merrill Lynch, Citigroup, Goldman, Sachs & Co., J.P. Morgan, BMO Capital Markets, BNP PARIBAS, Credit Agricole CIB, Deutsche Bank Securities, HSBC, Mitsubishi UFJ Securities, Mizuho Securities, RBC Capital Markets, RBS, UBS Investment Bank and Wells Fargo Securities.
[mappress] LNG World News Staff, November 29, 2012