Hess Notes Cash Tender Offer's Expiration, Results
Hess announced that the previously announced cash tender offer for any and all of its outstanding 6.65% Notes due August 15, 2011 expired at 5:00 p.m., New York City time, on December 16, 2009. After the expiration of the Offer, Hess accepted for purchase $545,733,000 aggregate principal amount of the Notes which were validly tendered and not validly withdrawn.
Holders of Notes that validly tendered and did not validly withdraw their Notes prior to the expiration of the Offer received Total Consideration of $1,094.94 for each $1,000 principal amount of Notes tendered and accepted for payment in the Offer. In addition to the Total Consideration, holders of Notes validly tendered and accepted for purchase received $22.54 per $1,000 principal amount of such Notes for accrued and unpaid interest up to, but not including, the settlement date, which is today, December 17, 2009.
Hess funded the purchase of the Notes with part of the proceeds from the sale of its 6.00% Notes due 2040, which was completed on December 14, 2009.
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