Thursday, December 2, 2021 08:00 ET
Occidental Announces Cash Tender Offers
Any and All of Certain of its Senior Notes
for Up To $2.0 Billion Aggregate Purchase Price
HOUSTON — December 2, 2021 — Occidental (NYSE: OXY) today announced that it has commenced cash tender offers (each, an “Offer” and collectively, the “Offers”) to purchase up to a maximum combined aggregate purchase price of $2.0 billion, including principal and premium but excluding accrued and unpaid interest (the “Maximum Purchase Price”) of its outstanding notes listed in the table below (the “Notes,” and each, a “Series” of Notes). Subject to the Maximum Purchase Price, the amount of a Series of Notes that is purchased in the Offers will be based on the Acceptance Priority Levels set forth in the table below. The Offers are being made on the terms and subject to the conditions set forth in the Offer to Purchase dated December 2, 2021 (the “Offer to Purchase”). Capitalized terms used in this release but not otherwise defined have the meaning given in the Offer to Purchase.
Consummation of the Offers and payment for the Notes accepted for purchase are subject to the satisfaction or waiver of certain conditions described in the Offer to Purchase, including the Maximum Consideration Condition (as defined below), as well as other customary conditions. Subject to applicable law, Occidental has reserved the absolute right, in its sole discretion, at any time, to (i) waive any and all conditions to the Offers, including the Maximum Consideration Condition, with or without extending the Withdrawal Time (as defined below), (ii) extend, terminate, or withdraw any Offer or the Offers, (iii) increase or waive the Maximum Purchase Price, with or without extending the Withdrawal Time (as defined below), or (iv) otherwise amend the Offers in any respect.
The Offers will expire at 5:00 p.m., New York City time, on December 8, 2021, unless extended or earlier terminated as described in the Offer to Purchase (such time and date, as they may be extended, the “Expiration Time”). Holders of the Notes (“Holders”) may withdraw their validly tendered Notes at any time at or prior to 5:00 p.m., New York City time, on December 8, 2021, unless extended (such time and date, as they may be extended, the “Withdrawal Time”). Holders are urged to read the Offer to Purchase carefully before making any decision with respect to the Offers.
View the full release and cautionary statement regarding forward-looking statements here.