Houston-based North Sea player, Apache, is selling bonds to make better use of its other borrowing and to fund the Anadarko Permian Basin development, OilGas24 understood Wednesday.
The oil company got help from Bank of America Securities LLC and J.P. Morgan Securities Inc. in offering.$1.5 billion in 10- and 30-year notes: $500 million of 5.625 percent coupon notes priced to yield 5.638 percent and maturing on Jan. 15, 2017 were sold, as was $1 billion in six-percent notes yielding 6.051 percent on Jan. 15, 2037.
Apache on January 18 declared it would acquire control of 28 oil and gas fields in the Permian Basin of West Texas from Anadarko Petroleum Corp. for $1 billion.
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