Apache Prices $2 Billion Notes Offering
HOUSTON, Nov. 28, 2012
HOUSTON, Nov. 28, 2012 /PRNewswire/ -- Apache Corporation (NYSE, Nasdaq: APA)
said today that it has priced $2 billion in aggregate principal amount of
notes in a public offering comprising $1.2 billion principal amount of 2.625%
notes due in 2023 and $800 million principal amount of 4.25% notes due in
Apache intends to use the net proceeds from the offering to repay outstanding
commercial paper borrowings and for general corporate purposes.
Net proceeds to Apache, after deducting the underwriting discounts and
estimated offering expenses payable by Apache, are expected to be
approximately $1.97 billion. The offering is expected to close on December 3,
2012, subject to the satisfaction of customary closing conditions.
Joint book-running managers for the offering are BofA Merrill Lynch,
Citigroup, Goldman, Sachs & Co., J.P. Morgan, BMO Capital Markets, BNP
PARIBAS, Credit Agricole CIB, Deutsche Bank Securities, HSBC, Mitsubishi UFJ
Securities, Mizuho Securities, RBC Capital Markets, RBS, UBS Investment Bank
and Wells Fargo Securities.
This news release shall not constitute an offer to sell or the solicitation of
an offer to buy, nor shall there be any sale of these securities in any
jurisdiction in which such offer or solicitation or sale would be unlawful
prior to registration or qualification under the securities laws of any such
Apache Corporation is an oil and gas exploration and production company with
operations in the United States, Canada, Egypt, the United Kingdom North Sea,
Australia and Argentina.
This news release contains forward-looking statements within the meaning of
Section 27A of the Securities Act of 1933 and Section 21E of the Securities
Exchange Act of 1934. Forward-looking statements can be identified by words
such as "anticipates," "intends," "plans," "seeks," "believes," "estimates,"
"expects" and similar references to future periods. While forward-looking
statements are based on assumptions and analyses made by us that we believe to
be reasonable under the circumstances, whether actual results and developments
will meet our expectations and predictions depend on a number of risks and
uncertainties which could cause our actual results, performance, and financial
condition to differ materially from our expectations. See "Risk Factors" in
our 2011 Form 10-K filed with the Securities and Exchange Commission for a
discussion of risk factors that affect our business. Any forward-looking
statement made by us in this news release speaks only as of the date on which
it is made. Factors or events that could cause our actual results to differ
may emerge from time to time, and it is not possible for us to predict all of
them. We undertake no obligation to publicly update any forward-looking
statement, whether as a result of new information, future development, or
otherwise, except as may be required by law.
SOURCE Apache Corporation
Contact: Media, Bill Mintz, +1-713-296-7276, or Patrick Cassidy,
+1-713-296-6100; Investors, Brady Parish, +1-713-296-6472, or Castlen Kennedy,
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