Apache calls $100 million of 5.68% series B cumulative preferred stock

By Marisa Wong

Milwaukee, Nov. 30 - Apache Corp. announced that it plans to redeem all $100 million of its outstanding 5.68% cumulative preferred stock, series B, on Dec. 30.

Apache will simultaneously redeem all of its depositary shares with proceeds from the preferred stock redemption, according to a news release. Each depositary share represents one-tenth of a preferred.

The series B preferreds will be redeemed at a price of $1,000 per share, plus $9.47 in accrued dividends up through the redemption date.

The depositary shares will be redeemed at a price of $100 per share, plus $0.947 in accrued dividends up through the redemption date.

Apache is an oil and gas exploration and production company based in Houston.

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