Occidental Petroleum Starts Cash Tender Offer for $1.09 Billion of Debt Securitiesadmin
Oil and gas explorer Occidental Petroleum Corp. said Tuesday it began a cash tender offer for $1.09 billion of its debt securities.
The securities include Occidental Petroleum’s 10.125 percent senior debentures due 2009, 9.25 percent senior debentures due 2019, 8.75 percent senior notes due 2023, 7.2 percent senior debentures due 2028 and 8.45 percent senior notes due 2029. The tender offer will expire on Jan. 30.
JP Morgan and Citigroup are the dealer managers of the offer.
Occidental Petroleum shares added $1.03, or 2.4 percent, to $44.84 in morning trading on the New York Stock Exchange.