Apache Corp. priced an offering of $1.0 billion of its 4.375% notes due 2028 in an underwritten public offering to help purchase outstanding senior debt in tender offers, according to an Aug. 14 news release.
The oil and gas producer expects to receive $992.0 million in net proceeds from the transaction, which is expected to close Aug. 23. Apache plans to use proceeds to help pay down senior debt from a tender offer for certain series of senior notes, with a combined maximum purchase price of $800.0 million, and for general corporate purposes.
Joint book-running managers for the notes are BofA Merrill Lynch, Credit Suisse Securities (USA) LLC and J.P. Morgan Securities LLC.
Apache recently created a new publicly traded midstream company with Kayne Anderson Acquisition Corp.