logo
Share SHARE
FONT-SIZE Plus   Neg

Apache Prices $3 Bln Notes Offering

Oil and natural gas producer Apache Corp. (APA) Tuesday said it is selling $3 billion worth debt notes, in order to fund the acquisition of Cordillera Energy Partners.

Apache is offering $400 million of 1.75% notes due in 2017, $1.1 billion of 3.25% notes due in 2022, and $1.5 billion of 4.75% notes due in 2043.

Proceeds to Apache, after deducting the underwriting discounts and estimated offering expenses, are expected to be about $2.96 billion.

Apache plans to use proceeds from the offering to fund the cash portion of Cordillera Energy Partners acquisition, repay Apache's $400 million of 6.25% notes due on April 15, and for general corporate purposes.

In January, Apache agreed to acquire privately-held Cordillera Energy Partners for $2.85 billion in cash and stock. The Cordillera transaction is expected to be completed during the second quarter.

by RTT Staff Writer

For comments and feedback: editorial@rttnews.com

Business News

Quick Facts

Editors Pick
Federal Communications Commission Chairman Ajit Pai has announced plans to repeal the net neutrality rules implemented under President Barack Obama. Pai, who was appointed by President Donald Trump, said he circulated his draft order to his fellow FCC commissioners Tuesday morning, with the order... Reflecting expectations the House Republican tax reform bill would provide a relatively modest boost to economic growth, a new analysis by the Tax Policy Center found that the legislation would add about $1.3 trillion to the national debt over a decade. Uber has been hit with an $8.9 million civil penalty by Colorado for allegedly allowing drivers with questionable backgrounds to work for the ride-hailing company. The Colorado Public Utilities Commission or PUC said it has issued a Civil Penalty Assessment Notice or CPAN totaling $8.9 million to Rasier LLC, the parent company of Uber.
comments powered by Disqus
Follow RTT