Hess Corporation announced today that it has agreed to sell $1.25 billion of notes with a 5.60% coupon maturing on February 15, 2041 in a registered public offering led by Goldman, Sachs & Co., J.P. Morgan Securities Inc., Morgan Stanley & Co. Incorporated, Deutsche Bank Securities Inc. and RBS Securities Inc.
Hess expects to use the net proceeds of the note offering to finance the acquisition of Total S.A.’s 7.85% interest in the Valhall Field and 12.5% interest in the Hod Field in the Norwegian North Sea and for working capital and other general corporate purposes.
Hess Corporation, with headquarters in New York, is a global integrated energy company engaged in the exploration, production, purchase, transportation and sale of crude oil and natural gas, as well as the production and sale of refined petroleum products.
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Source: Businesswire, August 6, 2010