Anadarko's Tender Offer Expires
Anadarko
Anadarko Petroleum Corp. (NYSE:APC) announced the expiration, as of 5:00 p.m. EDT yesterday, of the Maximum Tender Offer for up to $450,285,000 aggregate principal amount of securities pursuant to its previously announced cash tender offer, for which $454,675,000 aggregate principal amount of securities were validly tendered and not withdrawn prior to the expiration date as specified under the terms of the Maximum Tender Offer.
As previously announced, $749,715,000 aggregate principal amount of securities in the Any and All Offer, which expired on Monday, Sept. 20, 2004, were validly tendered and accepted for purchase on Sept. 20, 2004.
Anadarko elected not to cap the securities tendered in the Maximum Tender Offer, and accepted for purchase all securities validly tendered pursuant to both tender offers for a combined total of $1,204,390,000 aggregate principal amount of securities as listed below.
ABN AMRO Incorporated and J. P. Morgan Securities Inc. served as joint dealer managers, and Global Bondholder Services Corporation served as the depositary agent and information agent for the tender offer.
Anadarko Petroleum Corporation's mission is to deliver a competitive and sustainable rate of return to shareholders by developing, acquiring and exploring for oil and gas resources vital to the world's health and welfare. As of year-end 2003, Anadarko had 2.5 billion barrels of oil equivalent of reserves, making it one of the world's largest independent exploration and production companies. Anadarko's operational focus extends from the deepwater Gulf of Mexico, up through Texas, Louisiana, the Mid-Continent, western U.S. and Canadian Rockies and onto the North Slope of Alaska. Anadarko also has significant production in Algeria, Venezuela and Qatar.
As previously announced, $749,715,000 aggregate principal amount of securities in the Any and All Offer, which expired on Monday, Sept. 20, 2004, were validly tendered and accepted for purchase on Sept. 20, 2004.
Anadarko elected not to cap the securities tendered in the Maximum Tender Offer, and accepted for purchase all securities validly tendered pursuant to both tender offers for a combined total of $1,204,390,000 aggregate principal amount of securities as listed below.
Percentage Principal Principal of out- Amount Amount standing Acceptance Title of Outstanding tendered amount Priority Issuer Security (US$) (US$) tendered Level ---------------------------------------------------------------------- Offer for Notes Listed Below: Any and All Offer Anadarko 7.375% $88,115,000 $46,228,000 52.5% N/A Canada Debentures Corporation due May 15, 2006 Anadarko 7.000% $174,010,000 $123,369,000 70.9% N/A Holding Notes due Company October 15, 2006 Anadarko 5.375% $650,000,000 $507,403,000 78.1% N/A Notes due March 1, 2007 Anadarko 6.750% $116,285,000 $69,715,000 60.0% N/A Holding Notes due Company May 15, 2008 Anadarko 7.800% $11,000,000 $3,000,000 27.3% N/A Canada Debentures Corporation due July 2, 2008 ---------------------------------------------------------------------- Aggregate $1,039,410,000 $749,715,000 72.1% Any and All Offer Securities Percentage Principal Principal of out- Amount Amount standing Acceptance Title of Outstanding tendered amount Priority Issuer Security (US$) (US$) tendered Level ---------------------------------------------------------------------- Offer for Notes Listed Below: Maximum Tender Offer Anadarko 7.300% $84,770,000 $32,377,000 38.2% 1 Holding Notes due Company April 15, 2009 Anadarko 6.125% $400,000,000 $230,252,000 57.6% 2 Notes due March 15, 2012 Anadarko 5.000% $274,095,000 $192,046,000 70.1% 3 Notes due October 1, 2012 ---------------------------------------------------------------------- Aggregate $758,865,000 $454,675,000 59.9% Maximum Tender Offer Securities
ABN AMRO Incorporated and J. P. Morgan Securities Inc. served as joint dealer managers, and Global Bondholder Services Corporation served as the depositary agent and information agent for the tender offer.
Anadarko Petroleum Corporation's mission is to deliver a competitive and sustainable rate of return to shareholders by developing, acquiring and exploring for oil and gas resources vital to the world's health and welfare. As of year-end 2003, Anadarko had 2.5 billion barrels of oil equivalent of reserves, making it one of the world's largest independent exploration and production companies. Anadarko's operational focus extends from the deepwater Gulf of Mexico, up through Texas, Louisiana, the Mid-Continent, western U.S. and Canadian Rockies and onto the North Slope of Alaska. Anadarko also has significant production in Algeria, Venezuela and Qatar.
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