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The US oil company Occidental Petroleum Corp. announced the sale of $ 13 billion bonds to help finance the acquisition of Anadarko Petroleum Corp. The IPO has reached more than $ 75 billion, according to Bloomberg.
According to a knowledgeable source, Bloomberg said that Occidental would sell the bonds to finance the $ 38 billion acquisition on 10 tranches.
Anadarko confirmed in May that it had received a revised takeover bid from Occidental Petroleum Corp. Anadarko shareholders will receive $ 59 in cash and 0.2934 Occidental shares for each Anadarko share.
The acquisition of Anadarko is the largest in the oil and gas industry since Royal Dutch Shell bought the British group BG in 2016.
The acquisition of Anadarko adds a $ 40 billion debt to Western's capital structure, according to Moody's Investors Service.
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