HOUSTON--(BUSINESS WIRE)--Jul. 29, 2013--
Halliburton (NYSE: HAL) announced today the pricing of an offering of
$3.0 billion aggregate principal amount of senior notes. The notes are
being issued in four tranches: $600 million of 3-year notes bearing
interest at a fixed rate of 1.00% per year and maturing on August 1,
2016; $400 million of 5-year notes bearing interest at a fixed rate of
2.00% per year and maturing on August 1, 2018; $1.1 billion of 10-year
notes bearing interest at a fixed rate of 3.50% per year and maturing on
August 1, 2023; and $900 million of 30-year notes bearing interest at a
fixed rate of 4.75% per year and maturing on August 1, 2043. The
offering is expected to close on August 5, 2013.
Halliburton intends to use the net proceeds of the offering, together
with cash on hand to the extent necessary, to fund Halliburton’s
previously announced offer to repurchase up to $3.3 billion of shares of
its common stock pursuant to a modified “dutch auction” cash tender
offer, as well as related fees and expenses. To the extent that the
aggregate purchase price of the shares purchased in the tender offer and
related fees and expenses are less than the net proceeds of the
offering, Halliburton intends to use the remaining net proceeds for
general corporate purposes, including additional repurchases of common
stock. Pending the application of the net proceeds to finance the tender
offer or for general corporate purposes, as applicable, Halliburton may
temporarily invest the net proceeds in cash equivalents or short-term
investments.
The notes are being offered pursuant to an effective shelf registration
statement on Form S-3 previously filed with the Securities and Exchange
Commission. This press release does not constitute an offer to sell or a
solicitation of an offer to buy the securities described herein, nor
shall there be any sale of these securities in any state or jurisdiction
in which such an offer, solicitation or sale would be unlawful prior to
registration or qualification under the securities laws of any such
jurisdiction. The offering may be made only by means of a prospectus and
related prospectus supplement.
About Halliburton
Founded in 1919, Halliburton is one of the world’s largest providers of
products and services to the energy industry. With more than 75,000
employees, representing 140 nationalities in approximately 80 countries,
the company serves the upstream oil and gas industry throughout the
lifecycle of the reservoir – from locating hydrocarbons and managing
geological data, to drilling and formation evaluation, well construction
and completion, and optimizing production through the life of the field.
NOTE: The statements in this press release that are not historical
statements, including statements regarding the expected closing date and
use of proceeds of the offering, are forward-looking statements within
the meaning of the federal securities laws. These statements are subject
to numerous risks and uncertainties, many of which are beyond the
company's control, which could cause actual results to differ materially
from the results expressed or implied by the statements. Halliburton's
Form 10-K for the year ended December 31, 2012, Form 10-Q for the
quarters ended March 31, 2013 and June 30, 2013, recent Current Reports
on Form 8-K, and other Securities and Exchange Commission filings
discuss some of the important risk factors identified that may affect
Halliburton's business, results of operations, and financial condition.
Halliburton undertakes no obligation to revise or update publicly any
forward-looking statements for any reason.
There can be no assurance as to whether the tender offer will be
completed or as to the amount, timing or prices of share repurchases
under the tender offer or otherwise. The closing of the tender off is
subject to a number of conditions, as described in Halliburton’s offer
to purchase. The tender offer is being made solely by an offer to
purchase and the related letter of transmittal, as they may be amended
or supplemented. Stockholders and investors are urged to read
Halliburton’s tender offer statement on Schedule TO filed with the
Securities and Exchange Commission in connection with the tender offer,
which includes as exhibits the offer to purchase, the related letter of
transmittal and other offer materials, as well as any amendments or
supplements to the Schedule TO when they become available, because they
contain important information. These documents have been or, in the case
of any amendments or supplements to the Schedule TO, will be filed with
the Securities and Exchange Commission, and investors may obtain them
for free from the Securities and Exchange Commission at its website (www.sec.gov)
or from Georgeson Inc., the information agent for the tender offer, by
telephone at: (888) 293-6812 (toll-free), or in writing to: 480
Washington Boulevard, 26th Floor, Jersey City, New Jersey 07310 or halliburton@georgeson.com.
Source: Halliburton
Halliburton, Investor Relations
Kelly Youngblood, 281-871-2688
investors@halliburton.com
or
Halliburton,
Corporate Affairs
Beverly Blohm Stafford, 281-871-2601
PR@halliburton.com
