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

Issuer:     OCCIDENTAL PETROLEUM CORP /DE/ (OXY)
CIK:        0000797468
Form:       8-K
Filed at:   2024-07-19T23:59:59+00:00
Accession:  0000950157-24-001005
Event type: debt
Sentiment:  neutral
Materiality: 0.60
Item codes: 8.01, 9.01
LLM model:  deepseek-v4-flash:cloud@v2

Occidental launches exchange offer for up to $376M of CrownRock 5% notes due 2029
--------------------------------------------------------------------------------

- Occidental commenced private exchange offer for any and all outstanding $376M CrownRock 5% Senior Notes due 2029; offers new Occidental notes and cash.
- Concurrent consent solicitation to amend CrownRock indenture, removing restrictive covenants and events of default; requires majority consent.
- Holders tendering by Aug 1, 2024 (Early Participation Date) receive $1,000 principal of Occidental notes plus $2.50 cash per $1,000; those after receive $970 principal.
- Exchange offer and consent solicitation conditioned on closing of CrownRock acquisition, expected in August 2024.
- New Occidental notes will have same interest rate (5%), maturity (2029), and redemption terms as CrownRock notes; interest payments preserved.

Source:
  EDGAR index:    https://www.sec.gov/Archives/edgar/data/797468/000095015724001005/0000950157-24-001005-index.htm
  Primary doc:    https://www.sec.gov/Archives/edgar/data/797468/000095015724001005/form8-k.htm
  HTML page:      https://secwatch.observer/filing/0000950157-24-001005

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