debt
confidence high
sentiment neutral
materiality 0.60
Occidental commences $700M debt tender offer and consent solicitation on five note series
OCCIDENTAL PETROLEUM CORP /DE/
- Tender offers for five series: 0% 2036 notes, 6.125% 2031, 6.625% 2030, 7.2% 2029 debentures, 7.95% 2029 debentures.
- Maximum aggregate principal $700M; $58M sub-cap on zero-coupon 2036 notes.
- Consent solicitations for four series to eliminate covenants and shorten redemption notice to 5 business days.
- Early tender premium of $30 per $1,000 for tenders by March 4, 2026; offers expire March 19, 2026.
- Funding from cash on hand, including proceeds from OxyChem sale closed Jan 2, 2026.