Kerr-McGee repays $4.25 billion of term loan debt

By Sara Rosenberg

New York, Nov. 28 - Kerr-McGee Corp. repaid the $4.25 billion in term loan debt that it used to fund its modified Dutch auction tender offer, according to a company news release.

To make the loan repayment, Kerr-McGee used proceeds from the initial public offering of class A common stock made by its chemical business Tronox Inc., concurrent debt issuances by Tronox and various asset sales.

Kerr-McGee is an Oklahoma City-based oil and natural gas exploration and production company.

© 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.