Monday, February 28, 2022 9:01 AM ET
Occidental Announces Cash Tender Offers for Certain of its Senior Notes
HOUSTON — February 28, 2022 — Occidental (NYSE: OXY) today announced that it has commenced cash tender offers (each, an “Offer” and collectively, the “Offers”) to purchase its outstanding notes listed in the tables below (the “Notes,” and each, a “Series” of Notes) in two separate pools (each, a “Pool”). Occidental’s obligation to accept for purchase, based on the Acceptance Priority Levels (as defined below) set forth in the columns entitled “Acceptance Priority Level” in the tables below, and pay for Notes that are validly tendered and not validly withdrawn is limited to an aggregate amount (including principal and premium but excluding accrued and unpaid interest) of (a) $1,500,000,000 (as such amount may be increased or waived pursuant to the terms of the Offer to Purchase, the “Pool 1 Maximum Purchase Price”) for all of the Pool 1 Notes (as defined below) and (b) $1,000,000,000 (as such amount may be increased or waived pursuant to the terms of the Offer to Purchase, the “Pool 2 Maximum Purchase Price”) for all of the Pool 2 Notes (as defined below). The Offers are being made on the terms and subject to the conditions set forth in the Offer to Purchase dated February 28, 2022 (the “Offer to Purchase”). Capitalized terms used in this release but not otherwise defined have the meaning given in the Offer to Purchase.
The Offers will expire at 5:00 p.m., New York City time, on March 4, 2022, unless extended or earlier terminated as described in the Offer to Purchase (such time and date, as they may be extended, the “Expiration Time”). Holders of the Notes (“Holders”) may withdraw their validly tendered Notes at any time at or prior to 5:00 p.m., New York City time, on March 4, 2022, unless extended (such time and date, as they may be extended, the “Withdrawal Time”). Holders are urged to read the Offer to Purchase carefully before making any decision with respect to the Offers.
View the full release and cautionary statement regarding forward-looking statements here.