Anadarko Completes Repayment of Acquisition Financing
Anadarko Petroleum Corporation has completed the repayment of its 2006 acquisition financing. The company originally borrowed $22.5 billion in August 2006 to finance the all-cash acquisitions of Kerr-McGee Corp. and Western Gas Resources, Inc.
"We are very pleased to retire the remaining $1 billion outstanding under the facility at year-end 2007, through a combination of cash on hand and year-to-date cash flow from operations, and to have achieved our goal of retiring the entire financing without issuing any equity," Anadarko Senior Vice President and CFO Al Walker said. "We sincerely appreciate the trust of our stakeholders as we worked to retire this debt, as well as the support and confidence of the numerous institutions that provided the capital to facilitate these acquisitions."
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