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Halliburton to Redeem $2.5 Billion in Senior Notes

Source: www.gulfoilandgas.com 5/6/2016, Location: North America

Halliburton Company announced that, in connection with the previously announced termination of the merger agreement between Halliburton and Baker Hughes Incorporated, it will redeem the entire outstanding principal amount of its 2.700% Senior Notes due March 2020 and 3.375% Senior Notes due March 2022 (the “Notes”) pursuant to the special mandatory redemption procedures set forth in the indenture governing the terms of the Notes. The redemption date for the Notes is May 12, 2016. The aggregate principal amount of the Notes outstanding is $2.5 billion. The redemption price for each series of the Notes will consist of the sum of 101% of the principal amount of the Notes outstanding and any interest accrued and unpaid up to, but not including, the redemption date. Halliburton plans to use cash on hand to fund the special mandatory redemption.

Notices of redemption are being sent to all currently registered holders of the Notes by the Trustee, The Bank of New York Mellon Trust Company, N.A.

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Related Articles: Accounting, Statistics  Acquisitions and Divestitures  Asset Portfolio Management  Economics/Financial Analysis  General  Insurance  Investment  Mergers and Acquisitions  Risk Management 


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