Occidental announced that it has elected to terminate its previously announced offer to exchange (the “Exchange Offer”) any and all outstanding 5.000% Senior Notes due 2029 (the “CrownRock Notes”) issued by CrownRock, L.P. (“CrownRock”) and CrownRock Finance, Inc. (“CrownRock Finance” and, together with CrownRock, the “CrownRock Notes Issuers”) for up to $376,084,000 aggregate principal amount of new 5.000% Senior Notes due 2029 to be issued by Occidental and cash. Occidental has also elected to terminate the related solicitation of consents (the “Consent Solicitation” and, together with the Exchange Offer, the “Exchange Offer and Consent Solicitation”) on behalf of the CrownRock Notes Issuers to adopt certain proposed amendments to the indenture (the “CrownRock Indenture”) governing the CrownRock Notes.
As a result of the Exchange Offer being terminated, the total consideration will not be paid or become payable to holders of the CrownRock Notes who have validly tendered and not validly withdrawn their CrownRock Notes for exchange in the Exchange Offer, and the CrownRock Notes validly tendered and not validly withdrawn for exchange pursuant to the Exchange Offer will be promptly returned to the tendering holders. As a result of the Consent Solicitation being terminated, the proposed amendments to the CrownRock Indenture will not become effective.
Global Bondholder Services Corporation served as exchange agent and information agent for the now terminated Exchange Offer and Consent Solicitation. You should direct questions and requests for assistance to Global Bondholder Services Corporation at (855) 654-2015 (toll-free) or (212) 430-3774 (banks and brokers), or by email at contact@gbsc-usa.com.
