Looking for cash: Anadarko prices debt offering.
Anadarko prices $900m offering
US independent Anadarko Petroleum priced its $900 million senior notes offering in three tranches.
It will offer $275 million of senior fixed-rate notes due 2014, with a coupon of 5.75%; $300 million of senior fixed-rate notes due 2019, with a coupon of 6.95%; and $325 million of senior fixed-rate notes due 2039, with a coupon of 7.95%.
Anadarko expects to close the offering on 12 June, the company said in a relaese.
The company will use some of the money to pay back a portion of its $913 million in outstanding floating rate notes due 15 September, which were called for a redemption date of 30 June and for general corporate purposes.
Citigroup Global Markets, Morgan Stanley & Company, Banc of America Securities and RBC Securities acted as joint book-running managers.