Occidental gets debt commitment via BofA, Citi to acquire Anadarko

By Marisa Wong

Morgantown, W.Va., May 13 – Occidental Petroleum Corp. has obtained committed debt financing for its planned acquisition of Anadarko Petroleum Corp., according to an 8-K filing with the Securities and Exchange Commission.

Occidental entered into a commitment letter on May 5 with Bank of America, NA, Bank of America Merrill Lynch and Citigroup Global Markets Inc. Bank of America and Citi have agreed to provide debt financing for the cash portion of the multibillion dollar merger, which is expected to close in the second half of 2019.

Occidental and Anadarko are petroleum companies based in Houston and The Woodlands, Texas, respectively.

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