Apache Corp. - 2010-12-02
Description
Priced a public offering of senior notes consisting of $500 million principal amount of 3.625% notes due in 2021 and $500 million principal amount of 5.25% notes due in 2042. Net proceeds are expected to be $977 million, and will be used to redeem the outstanding public debt assumed upon completion of its acquisition of Mariner Energy Inc. Joint book-running managers for both the 2021 and 2042 notes are Deutsche Bank Securities, Goldman, Sachs & Co., J.P. Morgan and RBS. In addition, BMO Capital Markets, Morgan Stanley and Standard Chartered Bank are joint book-running managers for the 2021 notes, and Mitsubishi UFJ Securities, RBC Capital Markets and UBS Investment Bank are joint book-running managers for the 2042 notes.