HOUSTON, Jan. 23 /PRNewswire-FirstCall/ -- Apache Corporation (NYSE,
Nasdaq: APA) said that earlier today it priced $1.5 billion of 10- and
30-year notes. Proceeds will be used to reduce existing commercial paper
balances and increase committed borrowing capacity in anticipation of
funding Apache's recently announced Anadarko Permian Basin acquisition.
Apache sold $500 million of 5.625 percent coupon notes priced to yield
5.638 percent maturing on Jan. 15, 2017. Apache also sold $1 billion of 6
percent coupon notes priced to yield 6.051 percent maturing on Jan. 15,
2037.
Interest on each series of notes is payable July 15, 2007, and
semiannually thereafter. The offering is expected to close Jan. 26, 2007.
Banc of America Securities LLC and J.P. Morgan Securities Inc. are the
joint book-running managers for the offering.
Apache Corporation discovers and produces oil and gas in the United
States, Canada, the United Kingdom sector of the North Sea, Egypt,
Australia and Argentina.
This press release is provided for information purposes only, and does
not represent a solicitation or offer to buy or sell any security.
A registration statement relating to these securities was filed with
and has been declared effective by the Securities and Exchange Commission.
This press release shall not constitute an offer to sell or a solicitation
of an offer to buy, nor shall there be any sales of these securities in any
state or jurisdiction in which such an offer, solicitation or sale would be
unlawful prior to registration or qualification under the securities laws
of any such state or jurisdiction.
The offering is made by means of a prospectus and related prospectus
supplement only. A copy of the prospectus and related prospectus supplement
for the offering may be obtained by contacting Banc of America Securities
LLC, Prospectus Department, 100 West 33rd Street, Third Floor, New York,
New York, 10001, or by telephoning (800) 294-1322, or J.P. Morgan
Securities Inc., High Grade Syndicate Desk, 270 Park Avenue, Eighth Floor,
New York, New York, 10017, or by telephoning (collect) at 212-834-4533.
APA-F
SOURCE Apache Corporation
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Related links:
http://www.apachecorp.com
CONTACT:
media, Bill Mintz, +1-713-296-7276, or Tony
Lentini, +1-713-296-6227, or investors, Robert Dye,
+1-713-296-6662, all of Apache Corporation
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