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Pioneer Natural to redeem all $198 million of 2.875% convertibles
By Tali David
Minneapolis, April 15 - Pioneer Natural Resources Co. plans to redeem all of its 2.875% convertible senior notes due 2038, according to a press release.
The notes will be redeemed at par plus accrued interest on May 16.
As of April 12, there was $198 million outstanding on the convertibles, excluding $20 million for which the holders have delivered elections to convert their notes and which are pending settlement.
Noteholders may elect to convert their notes at any time before 5 p.m. ET on May 15. Wells Fargo Bank, NA is the conversion agent.
Pioneer is an independent oil and gas exploration and production company with headquarters in Dallas.
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