Hess Corporation Gathers Funds to Acquire Interests in Norwegian North Sea Assets
- Business & Finance
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.
Source: Businesswire, August 6, 2010