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XTO launches change-of-control offers for 7.5% notes and 6.25% notes
By Susanna Moon
Chicago, July 12 - XTO Energy Inc. began cash tender offers for its outstanding 7.5% senior notes due 2012 and 6.25% senior notes due 2013, according to a press release by Exxon Mobil Corp., which guarantees the notes.
The offers are being made under the note indentures, which require XTO to offer to purchase the securities upon a change of control. The merger by which XTO became a wholly owned subsidiary of Exxon Mobil was completed on June 25 and constituted a change of control under the indentures.
Each change-of-control offer will expire at 5 p.m. ET on Aug. 6.
The purchase price for both offers will be 101% of par plus accrued interest up to the purchase date, which will be Aug. 13.
Tendered notes can be withdrawn until 5 p.m. ET on Aug. 10, the withdrawal date.
The Bank of New York Mellon Trust Co., NA (212 815-5920) is the depositary.
Requests for assistance or additional copies of the offer may be directed to XTO at 800 299-2800 or 817 870-2800.
XTO is a Fort Worth-based energy firm.
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