Halliburton to Redeem $2.5 Billion in Senior Notes
May 06 2016 - 4:30PM
Business Wire
Halliburton Company (NYSE:HAL) announced today that, in
connection with the previously announced termination of the merger
agreement between Halliburton and Baker Hughes Incorporated
(NYSE:BHI), it will redeem the entire outstanding principal amount
of its 2.700% Senior Notes due March 2020 and 3.375% Senior Notes
due March 2022 (the “Notes”) pursuant to the special mandatory
redemption procedures set forth in the indenture governing the
terms of the Notes. The redemption date for the Notes is May 12,
2016. The aggregate principal amount of the Notes outstanding is
$2.5 billion. The redemption price for each series of the Notes
will consist of the sum of 101% of the principal amount of the
Notes outstanding and any interest accrued and unpaid up to, but
not including, the redemption date. Halliburton plans to use cash
on hand to fund the special mandatory redemption.
Notices of redemption are being sent to all currently registered
holders of the Notes by the Trustee, The Bank of New York Mellon
Trust Company, N.A. For more information, holders of the Notes may
call The Bank of New York Mellon at 1-800-254-2826.
This press release is not an offer to sell or a solicitation of
an offer to buy any securities.
About Halliburton
Founded in 1919, Halliburton is one of the world's largest
providers of products and services to the energy industry. With
over 55,000 employees, representing 140 nationalities in over 80
countries, the company serves the upstream oil and gas industry
throughout the lifecycle of the reservoir - from locating
hydrocarbons and managing geological data, to drilling and
formation evaluation, well construction and completion, and
optimizing production through the life of the field. Visit the
company’s website at www.halliburton.com. Connect with Halliburton
on Facebook, Twitter, LinkedIn, and YouTube.
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HalliburtonFor Investors:Lance Loeffler,
281-871-2633Halliburton, Investor
RelationsInvestors@Halliburton.comorFor Media:Emily Mir,
281-871-2601Halliburton, Public RelationsPR@Halliburton.com
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