Occidental issues $5B in senior notes to fund CrownRock acquisition and refinancing

OCCIDENTAL PETROLEUM CORP /DE/

Issued $5B in senior notes: $600M 5.000% due 2027, $1.2B 5.200% due 2029, $1B 5.375% due 2032, $1.2B 5.550% due 2034, $1B 6.050% due 2054.
Net proceeds of approximately $4.945 billion after underwriting discounts and estimated expenses.
Net proceeds will fund cash consideration for the CrownRock Acquisition, Refinancing Transactions, and related fees.
Notes sold July 26, 2024; interest payable semi-annually with optional redemption provisions.

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