Anadarko Prices $900MM of Senior Notes in 3 Tranches

Anadarko Petroleum Corp.

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.