secwatch.observer — SEC 8-K summary
======================================

Issuer:     OCCIDENTAL PETROLEUM CORP /DE/ (OXY)
CIK:        0000797468
Form:       8-K
Filed at:   2023-12-28T23:59:59+00:00
Accession:  0000950157-23-001280
Event type: debt
Sentiment:  neutral
Materiality: 0.75
Item codes: 1.01, 2.03, 9.01
LLM model:  deepseek-v4-flash:cloud@v2

OXY enters $4.7B term loan agreement to fund CrownRock acquisition
------------------------------------------------------------------

- Total commitments: $2.0B 364-day tranche and $2.7B two-year tranche.
- Proceeds to pay cash consideration for CrownRock acquisition, refinance Target debt, and pay fees.
- Interest at Term SOFR or Alternate Base Rate plus margin based on OXY's credit ratings (112.5-225 bps for 364-day SOFR).
- Commitments contingent on closing of CrownRock; commitments terminate December 10, 2024 (or later if outside date extended).
- Covenant requires Total Debt to Total Capitalization ratio ≤ 0.65 to 1.00 tested quarterly.

Source:
  EDGAR index:    https://www.sec.gov/Archives/edgar/data/797468/000095015723001280/0000950157-23-001280-index.htm
  Primary doc:    https://www.sec.gov/Archives/edgar/data/797468/000095015723001280/form8-k.htm
  HTML page:      https://secwatch.observer/filing/0000950157-23-001280

License: Source filings: public domain (SEC EDGAR). Summaries (headline + bullets): CC-BY-4.0; attribute https://secwatch.observer