Newfield Exploration Prices Public Offering
Newfield Exploration Company has priced its public offering of $1 billion of 5 5/8 percent Senior Notes due 2024. The notes were issued at par. The Company expects to close the offering on June 26, 2012 and intends to use the net proceeds from the offering to fund its tender offer and consent solicitation for its existing 6 5/8 percent Senior Subordinated Notes due 2016 and to reduce borrowings outstanding under its credit arrangements. Wells Fargo Securities, LLC is acting as sole book-running manager for the offering.