By Andrea Heisinger
New York, Sept. 29 - Apache Corp. priced $800 million of notes (A3/A-/A) Friday in two tranches, an informed source said.
Full terms were announced Monday in an FWP filing with the Securities and Exchange Commission.
The $400 million of 6% five-year notes priced at 99.476 to yield 6.125%, equivalent at the time of pricing to Treasuries plus 310 basis points.
The $400 million of 6.9% 10-year notes priced at 99.593 to yield 6.958%, or Treasuries plus 310 bps.
Both tranches have make-whole redemption options of Treasuries plus 50 bps.
Bookrunners were Goldman Sachs & Co. and J.P. Morgan Securities Inc.
Co-managers were Banc of America Securities LLC and Citigroup Global Markets Inc.
The energy exploration company is based in Houston.
| Issuer: | Apache Corp.
|
| Issue: | Notes
|
| Amount: | $800 million
|
| Bookrunners: | Goldman Sachs & Co., J.P. Morgan Securities Inc.
|
| Co-managers: | Banc of America Securities LLC, Citigroup Global Markets Inc.
|
| Trade date: | Sept. 26
|
| Settlement date: | Oct. 1
|
| Ratings: | Moody's: A3
|
| Standard & Poor's: A-
|
| Fitch: A
|
|
|
| Five-year notes
|
| Amount: | $400 million
|
| Maturity: | Sept. 15, 2013
|
| Coupon: | 6%
|
| Price: | 99.476
|
| Yield: | 6.125%
|
| Spread: | Treasuries plus 310 bps
|
| Call: | Make-whole at Treasuries plus 50 bps
|
|
|
| 10-year notes
|
| Amount: | $400 million
|
| Maturity: | Sept. 15, 2018
|
| Coupon: | 6.9%
|
| Price: | 99.593
|
| Yield: | 6.958%
|
| Spread: | Treasuries plus 310 bps
|
| Call: | Make-whole at Treasuries plus 50 bps
|
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