HOUSTON, March 15 /PRNewswire/ -- Anadarko Petroleum Corporation
(NYSE: APC) today announced the offering of $200 million in principal amount
of 7.2% Debentures due 2029. The Debentures were priced at a spread of
165 basis points above the 30-year Treasuries to yield 7.224%. The Debentures
may not be redeemed by the Company prior to maturity.
Anadarko said the net proceeds from the offering will be used to fix
existing floating rate debt. Goldman Sachs was the manager and Merrill Lynch
and J. P. Morgan were co-managers of the underwriting.
This press release contains forward-looking statements within the meaning
of Section 27A of the Securities Act of 1933 and Section 21E of the Securities
Exchange Act of 1934. Anadarko believes that its expectations are based on
reasonable assumptions. No assurances, however, can be given that its goals
will be achieved. See Additional Factors Affecting Business in the Management
Discussion and Analysis (MD&A) included in the Company's 1998 Annual Report on
Form 10-K.
SOURCE Anadarko Petroleum Corporation
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Related links:
http://www.anadarko.com
Company News On-Call:
http://www.prnewswire.com/comp/038950.html or fax,
800-758-5804, ext. 038950
CONTACT:
Analysts and Investors: A. Paul Taylor, Jr.,
281-874-3471, or Steve C. Campbell, 281-874-3260, or Media:
Carol L. Cox, 281-873-3855, all of Anadarko Petroleum Corporation
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