secwatch.observer — SEC 8-K summary
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Issuer:     DEVON ENERGY CORP/DE (DVN)
CIK:        0001090012
Form:       8-K
Filed at:   2026-06-25T20:34:24+00:00
Accession:  0001193125-26-282884
Event type: debt
Sentiment:  neutral
Materiality: 0.60
Item codes: 1.01, 8.01, 2.03, 9.01
LLM model:  deepseek-v4-flash:cloud@v2

Devon completes $2.94B debt exchange, issues new notes at 3.9%-5.9% across 5 series
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- Settled exchange of ~$2.94B aggregate principal of existing Coterra notes for new Devon notes plus cash on June 25, 2026.
- Issued $627M 3.9% notes due 2027, $448M 4.375% notes due 2029, $466M 5.6% notes due 2034, $672M 5.4% notes due 2035, $734M 5.9% notes due 2055.
- New notes are unsecured and rank equally with Devon's other unsecured debt; remaining existing Coterra notes outstanding after settlement are ~$282M.
- Entered registration rights agreement with Wells Fargo, BofA, Citi; must use commercially reasonable efforts to file exchange offer registration statement within 450 days.
- Devon may pay up to 1% additional interest on new notes if exchange registration not completed within 450 days.

Source:
  EDGAR index:    https://www.sec.gov/Archives/edgar/data/1090012/000119312526282884/0001193125-26-282884-index.htm
  Primary doc:    https://www.sec.gov/Archives/edgar/data/1090012/000119312526282884/d162931d8k.htm
  HTML page:      https://secwatch.observer/filing/0001193125-26-282884

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