$2 billion Devon note exchange completed


Devon Energy says it finished a nearly $2 billion offer to exchange notes of WPX Energy Inc., the Tulsa firm that merged with Devon earlier this year.

In a filing with the Securities Exchange Commission, Devon stated it exchanged approximately $1.96 billion or 97.45% of the WPX notes that were outstanding. The WPX notes were exchanged for Devon notes and the exchange included:

8.250% Notes due 2023 $224,079,000
5.250% Notes due 2024 $465,268,000
5.250% Notes due 2027 $377,557,000
5.875% Notes due 2028 $322,488,000
4.500% Notes due 2030 $573,827,000

Devon’s SEC filing also indicated the exchange offers have since expired and are no longer open to participation by any holders of the WPX notes.

Devon and WPX Energy completed the merger in January.