Apache intends to price senior notes in 10-, 30-year maturities

By Andrea Heisinger

New York, Nov. 28 - Apache Corp. is planning an offering of senior notes (A3/A-/A-) in two tranches, according to a 424B5 filing with the Securities and Exchange Commission.

The offering includes maturities of 2023 and 2044.

There is a change-of-control put at 101%.

Active bookrunners are Bank of America Merrill Lynch, Citigroup Global Markets Inc., Goldman Sachs & Co. and J.P. Morgan Securities LLC.

Assisting on the sale are BMO Capital Markets, BNP Paribas Securities Corp., Credit Agricole Securities (USA) Inc., Deutsche Bank Securities Inc., HSBC Securities (USA) Inc., Mitsubishi UFJ Securities (USA) Inc., Mizuho Securities USA Inc., RBC Capital Markets LLC, RBS Securities Inc., UBS Securities LLC and Wells Fargo Securities LLC.

Proceeds will be used to repay commercial paper borrowings and for general corporate purposes.

Apache last tapped the bond market with a $3 billion sale in three tranches on April 3, 2012. The sale included a 3.25% 10-year note priced at 100 basis points over Treasuries and 4.75% 30-year bonds at Treasuries plus 135 bps.

The Houston-based energy company does exploration, transportation and production for natural gas, crude oil and natural gas liquids.

© 2015 Prospect News.
All content on this website is protected by copyright law in the U.S. and elsewhere. For the use of the person downloading only.
Redistribution and copying are prohibited by law without written permission in advance from Prospect News.
Redistribution or copying includes e-mailing, printing multiple copies or any other form of reproduction.