A week after breaking off its merger agreement with Baker Hughes, Houston-based Halliburton Company announced it will also redeem the entire outstanding principal amount of $2.5 billion in its 2.700% Senior Notes due March 2020. The offer also includes its 3.375% Senior Notes due in March 2022.
The redemption date for the Notes is May 12, 2016 and the redemption price for each series of the Notes will be the sum of 101% of the principal amount outstanding as well as any interest accrued and unpaid up to but not including the redemption date.
Halliburton indicated it will 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.