ConocoPhillips announced the early results of the previously announced cash tender offers of its wholly-owned subsidiary, ConocoPhillips Company. In addition, COP further announced that it has amended the Offers by increasing the Maximum Offer Reference Amount from $4,000,000,000 to an amount sufficient to accept for purchase all Notes with Acceptance Priority Levels 1-7 in full, in accordance with the terms of the Offer to Purchase.
According to information provided by Global Bondholder Services Corporation, the information agent and tender agent for the Offers, as of 5:00 p.m., New York City time, on Dec. 9, 2024 (the “Early Tender Deadline”), approximately $2.67 billion aggregate principal amount of Any and All Notes were validly tendered and not validly withdrawn, and approximately $2.28 billion aggregate principal amount of Maximum Offer Notes were validly tendered and not validly withdrawn.
Pursuant to the Offers, CPCo is offering to purchase: (1) any and all of Marathon Oil Corporation’s (“Marathon”) debt securities and (2) (A) for Holders who validly tendered their Maximum Offer Notes as of the Early Tender Deadline a combined aggregate purchase price of up to approximately $4.05 billion less the aggregate purchase price of the Any and All Notes validly tendered and accepted for purchase through the Early Tender Deadline of the debt securities .
Source: press release
