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Conoco to redeem all $1.75 billion outstanding 6.35% notes due 2011
By Marisa Wong
Madison, Wis., July 2 - Conoco Funding Co. gave notice that it will redeem all $1.75 billion of its outstanding 6.35% notes due Oct. 15, 2011 on Aug. 3.
The notes will be redeemed at par plus a premium equal to the amount by which the remaining scheduled payments on the notes, discounted on a semiannual basis at the Treasury rate plus 30 basis points, exceeds the principal amount of the notes, plus accrued interest up to the redemption date.
The notes are guaranteed by ConocoPhillips Co.
The Bank of New York Mellon Trust Co., NA is the trustee.
Conoco Funding is an unlimited liability company that operates as a subsidiary of ConocoPhillips, a Houston-based integrated energy company.
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