debt
confidence high
sentiment neutral
materiality 0.60
Occidental terminates exchange offer for up to $376M CrownRock Notes
OCCIDENTAL PETROLEUM CORP /DE/
- Terminated exchange of any/all outstanding 5.000% CrownRock Notes due 2029 for new Occidental notes plus cash.
- Aggregate principal amount of new notes offered was up to $376,084,000 at same 5.000% coupon.
- Related consent solicitation to amend CrownRock indenture also terminated; no consideration paid.
- Tendered CrownRock Notes will be returned to holders promptly.
- No reason for termination was provided in the announcement.