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California Resources planning $5 billion offering of senior notes
By Aleesia Forni
Virginia Beach, Sept. 3 – California Resources Corp., a wholly owned subsidiary of Occidental Petroleum Corp., is planning to price a $5 billion offering of senior notes, according to an 8-K filed with the Securities and Exchange Commission.
The sale will be done via Rule 144A and Regulation S.
Proceeds will be used to make a cash distribution to Occidental Petroleum.
Occidental is an oil and gas exploration company based in Los Angeles.
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