Occidental Sells $13 Billion of Debt to Fund Anadarko Purchase
- Demand for bonds was biggest since Saudi Arabia’s Aramco sale
- Sale brings week’s total of high-grade deals to $16 billion
Photographer: Brittany Sowacke/Bloomberg
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Occidental Petroleum Corp. sold $13 billion of debt to help finance its acquisition of Anadarko Petroleum Corp. after receiving over $75 billion in orders for the deal at the peak, according to people familiar with the matter.
It was the biggest demand for a debt sale since Saudi Arabia’s Aramco received more than $100 billion in orders in April, and a sign that investors were willing to take risk again just a day after the trade-war induced volatility shook global markets.