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Occidental Petroleum | 8-K: Entry into an Underwriting Agreement

SEC ·  Jul 27 04:59
Summary by Futu AI
On July 23, 2024, Occidental Petroleum Corporation, a Delaware-incorporated entity, entered into an Underwriting Agreement with a consortium of underwriters led by BofA Securities, Inc., J.P. Morgan Securities LLC, MUFG Securities Americas Inc., and SMBC Nikko Securities America, Inc. The agreement outlined the sale of five series of senior unsecured notes totaling $5 billion. These notes, with varying interest rates and maturities ranging from 2027 to 2054, were successfully issued on July 26, 2024. Occidental plans to use the net proceeds of approximately $4.945 billion to finance the CrownRock Acquisition, Refinancing Transactions, and related fees and expenses. The notes were issued under an existing shelf registration statement and are governed by an Indenture dated August 8, 2019, with The Bank of New York Mellon Trust Company, N.A. serving as trustee. Occidental has the option to redeem the notes before maturity. Details of the agreement, notes, and related legal opinions and consents were filed with the SEC as part of the company's regulatory disclosures.
On July 23, 2024, Occidental Petroleum Corporation, a Delaware-incorporated entity, entered into an Underwriting Agreement with a consortium of underwriters led by BofA Securities, Inc., J.P. Morgan Securities LLC, MUFG Securities Americas Inc., and SMBC Nikko Securities America, Inc. The agreement outlined the sale of five series of senior unsecured notes totaling $5 billion. These notes, with varying interest rates and maturities ranging from 2027 to 2054, were successfully issued on July 26, 2024. Occidental plans to use the net proceeds of approximately $4.945 billion to finance the CrownRock Acquisition, Refinancing Transactions, and related fees and expenses. The notes were issued under an existing shelf registration statement and are governed by an Indenture dated August 8, 2019, with The Bank of New York Mellon Trust Company, N.A. serving as trustee. Occidental has the option to redeem the notes before maturity. Details of the agreement, notes, and related legal opinions and consents were filed with the SEC as part of the company's regulatory disclosures.
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