Anadarko Prices $900MM of Senior Notes in 3 Tranches
Anadarko has priced its registered public offering of $900 million of senior notes in the following three tranches:
- $275 million of senior fixed-rate notes due 2014, with a coupon of 5.75 percent;
- $300 million of senior fixed-rate notes due 2019, with a coupon of 6.95 percent; and
- $325 million of senior fixed-rate notes due 2039, with a coupon of 7.95 percent.
Anadarko expects to close the offering on June 12, 2009, and intends to use a portion of the net proceeds from the offering to fund a portion of the redemption of the remaining approximately $913 million of its outstanding floating rate notes due Sept. 15, 2009, which were called for a redemption date of June 30, 2009, and for general corporate purposes, which may include future retirement of additional indebtedness.
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