XTO Energy tenders for nine series of notes totaling $3.83 billion

By Angela McDaniels

Tacoma, Wash., Dec. 9 - XTO Energy Inc. began tender offers for $3.83 billion of its debt securities, according to a company news release.

The purchase price for each note will be determined by reference to a fixed spread over the yield to maturity of a reference Treasury as of 2 p.m. ET on Dec. 16. Holders will also receive accrued interest up to but excluding the settlement date.

The securities eligible for the offers and their spreads are as follows:

• $346,895,000 of 7.5% senior notes due 2012, 27 basis points;

• $550 million of 5.9% senior notes due 2012, 4 bps;

• $386.27 million of 6.25% senior notes due 2013, 27 bps;

• $400 million of 4.625% senior notes due 2013, 13 bps;

• $500 million of 5.75% senior notes due 2013, 37.5 bps;

• $500 million of 4.9% senior notes due 2014, negative 50 bps;

• $348 million of 5% senior notes due 2015, negative 10 bps;

• $400 million of 5.3% senior notes due 2015, 5 bps; and

• $400 million of 5.65% senior notes due 2016, 35 bps.

The 0.5% Treasury due Nov. 30, 2012 is the reference Treasury for the first five notes, and the 1.375% Treasury due Nov. 30, 2015 is the reference Treasury for the remainder.

The offers will expire at 5 p.m. ET on Dec. 16.

The offers are not subject to any minimum tender condition, and no offer is conditioned on the completion of any other offer.

Barclays Capital Inc. (800 438-3242 or 212 528-7581), and J.P. Morgan Securities LLC (866 834-4666 or 212 834-4811) are the dealer managers. Global Bondholder Services Corp. (866 952-2200 or 212 430-3774) is the information agent.

XTO is a Fort Worth-based energy firm and a subsidiary of Exxon Mobil Corp.

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