Devon Energy Announces Pricing and Expiration of Any and All Tender Offers
Download
Title of |
CUSIP |
Principal Amount |
U.S. Treasury |
Bloomberg |
Fixed |
Principal |
Total |
||||||||||||||
8.250% notes due 2018(b)(c) |
674812AK8 | $125,000,000 |
0.750% UST |
FIT1 | +65 bps |
$96,689,000 |
$1,128.44 | ||||||||||||||
6.300% notes due 2019(d) |
25179MAH6 | $700,000,000 |
0.750% UST |
FIT1 | +95 bps |
$519,725,000 |
$1,107.70 |
(a) | Per $1,000 principal amount. Total Consideration (as defined below) calculated on the basis of pricing for the U.S. Treasury Reference Security as of 2:00 p.m., New York City time, on August 10, 2016. | |
(b) | Issuer: Devon OEI Operating, L.L.C. | |
(c) | Includes approximately $48 million principal amount of privately placed notes. | |
(d) | Issuer: Devon Energy Corporation. | |
The Offers were made pursuant to the terms and conditions set forth in
the offer to purchase, dated
The Offers expired at
The “Total Consideration” listed in the
table above for each
According to information provided by
Holders will also receive accrued and unpaid interest on Notes validly
tendered and accepted for purchase from the applicable last interest
payment date up to, but not including, the date the Company makes
payment for such Notes, which date is anticipated to be
Information Relating to the Offers
This press release is for informational purposes only and is not an
offer to buy, or the solicitation of an offer to sell, any of the Notes,
and the Offers do not constitute offers to buy or the solicitation of
offers to sell Notes in any jurisdiction or in any circumstances in
which such offers or solicitations are unlawful. The full details of the
Offers, including complete instructions on how to tender Notes, are
included in the Tender Offer Documents. Holders are strongly encouraged
to read carefully the Tender Offer Documents, including materials
incorporated by reference therein, because they will contain important
information. The Tender Offer Documents may be downloaded from D.F.
Forward-Looking Statements
This press release contains forward-looking statements within the
meaning of the federal securities laws. Such statements are subject to a
number of assumptions, risks and uncertainties, many of which are beyond
the control of the Company. These risks include, but are not limited to,
the Company’s ability to complete any of the Offers and reduce its
outstanding indebtedness and the other risks identified in the offer to
purchase relating to the Offers, the Company’s Annual Report on Form
10-K and its other filings with the
About Devon
View source version on businesswire.com: http://www.businesswire.com/news/home/20160810006234/en/
Source:
Devon Energy Corporation
Investor Contacts
Howard
Thill, 405-552-3693
Scott Coody, 405-552-4735
Chris Carr,
405-228-2496
Media Contact
John Porretto,
405-228-7506