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WPX Energy begins two-week tender for $150 million of three series
By Susanna Moon
Chicago, Aug. 8 – WPX Energy, Inc. said it began cash tender offers for up to $150 million principal amount of its 7½% senior notes due 2020, 8¼% senior notes due 2023 and 6% senior notes due 2022.
The total purchase price for each $1,000 principal amount will be as follows, with the notes listed in order of priority acceptance levels:
• $1,100 for the $500 million 7½% senior notes due 2020;
• $1,122.50 for the $500 million 8¼% senior notes due 2023 with a tender sub-cap of $75 million; and
• $1,037.50 for the $1.1 billion 6% senior notes due 2022 with a tender sub-cap of $50 million.
The total payment will include an early tender premium of $30.00 per $1,000 principal amount of notes tendered by the early deadline of 5 p.m. ET on Aug. 21.
Holders will also receive accrued interest to but excluding the settlement date.
The tender offers will end at midnight ET at the end of Sept. 5.
Tendered notes may be withdrawn before the early deadline.
The dealer manager is Wells Fargo Securities, LLC (866 309-6316 or 704 410-4760). The information agent is Global Bondholder Services Corp. (866 470-4200 or 212 430-3774).
WPX Energy is a Tulsa, Okla., oil-focused energy company with operations in the Permian’s Delaware Basin, the Williston Basin and the San Juan Basin.
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