Devon Energy Corporation announced Monday that it is commencing private exchange offers and related consent solicitations with respect to the series of nearly $2 billion in outstanding notes of WPX Energy, Inc., a wholly-owned, direct subsidiary of Devon.
Devon said it was also soliciting consents from the eligible noteholders to amend the WPX notes and related indenture under which they were issued.
The largest amount are $585 million in 4.500% notes due 2030. The offer also includes $472,230,000 in 5.250% notes due 2024; $390 million in 5.250% notes due 2027; $325 million in 5.875% notes due 2028; and $242,374,000 in 8.250% notes due 2023.
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