Occidental raises debt tender cap to $1.2 billion; early results show $1.2 billion accepted
Occidental Petroleum said that as of 5:00 p.m. New York time on March 4, 2026, holders had tendered notes exceeding its tender cap, so it raised the maximum principal it will buy from $700 million to $1.2 billion and accepted $1.2 billion of notes across three series. The 6.125% 2031 notes were accepted in full, the 6.625% 2030 notes were prorated at 28.7%, and the 2029 debentures were not accepted, while a supplemental indenture removes certain covenants from the 6.125% 2031 notes.
Key points
- Accepted for purchase: $843,259,000 of 6.125% 2031 notes (100% proration), $335,208,000 of 6.625% 2030 notes (28.7% proration), and $21,533,000 of zero coupon 2036 notes
- The 7.200% and 7.950% 2029 debentures were not accepted, and consents for the 2030 notes and 2029 debentures were not obtained, so those indentures are unchanged
- The Fifth Supplemental Indenture for the 6.125% 2031 notes became operative March 9, 2026, and sets the minimum redemption notice period at 5 business days
- Early settlement is March 9, 2026, and the tender offers expire at 5:00 p.m. New York time on March 19, 2026 unless extended or terminated
The filing
Written by AI on Nov 8, 2026, 1:42 AM ET, from this filing only. Written later: this filing was briefed after the fact, when past filings were added to the site, so the brief may be read with hindsight; the filing itself is the record of what was known on March 09, 2026.
Briefs are written by AI from the filing text and can contain mistakes — open the filing before acting on anything. Impact (1-5) and tone are the AI's reading of the filing for shareholders, not a price forecast. Not investment advice.