Devon closes $2.25B senior notes offering; special redemption if Grayson Mill deal fails

DEVON ENERGY CORP/DE

Issued $1.25B 5.200% notes due 2034 and $1B 5.750% notes due 2054 in registered public offering.
Notes rank equally with existing unsecured debt; interest payable semi-annually starting March 2025.
Special mandatory redemption at 101% if Grayson Mill acquisition not closed by later of Apr 8, 2025 or extended date.
Make-whole call options prior to par call dates (3 months before maturity for 2034, 6 months for 2054).

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