---
schema_version: "secwatch.filing_event.v1"
accession: "0001193125-24-018915"
form_type: "8-K"
ticker: null
cik: "0000006769"
company_name: "APACHE CORP"
filed_at: "2024-01-30T23:59:59+00:00"
generated_at: "2026-06-06T15:21:52.367687+00:00"
event_type: "debt"
sentiment: "neutral"
materiality_score: 0.75
calibrated_materiality_score: 0.75
confidence: "high"
source: SEC EDGAR
---

# Apache Corp guarantees $2.0B credit facility for APA's acquisition of Callon Petroleum

## Summary
- $2.0B unsecured delayed-draw term loan: $1.5B 3-year and $500M 364-day tranches, proceeds to refinance Callon debt.
- Apache's guaranty effective until its senior notes outstanding fall below $1.0B; APA must prepay unused borrowings within 120 days of closing.
- Financial covenant requires adjusted debt-to-capital ratio ≤ 60%; negative covenants include lien restrictions and merger limitations.
- Interest margins tied to long-term debt rating: Base Rate Margin 0.625%-1.375%, Applicable Margin 1.625%-2.375% for 3-year tranche.
- Ticking fee of 0.225% per annum on undrawn commitments starting 90 days after Jan 3, 2024.

## SEC filing metadata
- accession: 0001193125-24-018915
- form_type: 8-K
- cik: 0000006769
- company_name: APACHE CORP
- filed_at: 2024-01-30T23:59:59+00:00
- event_type: debt
- sentiment: neutral
- materiality_score: 0.75
- calibrated_materiality_score: 0.75
- confidence: high
- sec_items: 1.01, 2.03, 9.01
- EDGAR index: https://www.sec.gov/Archives/edgar/data/6769/000119312524018915/0001193125-24-018915-index.htm
- EDGAR primary document: https://www.sec.gov/Archives/edgar/data/6769/000119312524018915/d760841d8k.htm

## Machine-readable alternates
- HTML: https://secwatch.observer/filing/0001193125-24-018915
- JSON: https://secwatch.observer/filing/0001193125-24-018915.json
- Plain text: https://secwatch.observer/filing/0001193125-24-018915.txt

## Key facts
- Debt Financings
  APACHE CORP incurred credit facility of $2.0 billion with JPMorgan Chase Bank, N.A., as administrative agent maturing Three years after the Closing Date for the 3-Year Tranche Loans, 364 days after the Closing Date for the 364-Day Tranche Loans.
  - Instrument: credit facility
  - Principal: $2.0 billion
  - Counterparty: JPMorgan Chase Bank, N.A., as administrative agent
  - Maturity: Three years after the Closing Date for the 3-Year Tranche Loans, 364 days after the Closing Date for the 364-Day Tranche Loans
  - Event: incurrence
  source text: senior notes and debentures outstanding under Apache’s existing indentures first is less than $1.0 billion. The lenders under the Credit Agreement have committed an aggregate $2.0 billion for senior unsecured delayed-draw term loans to APA, the proceeds of which, subject to satisfaction of certain limited conditions, APA may use to refinance certain indebtedness
  evidence_url: https://www.sec.gov/Archives/edgar/data/6769/000119312524018915/0001193125-24-018915-index.htm

This AI-assisted summary is a reading aid. Review the linked SEC EDGAR filing before relying on any specific claim.