HOUSTON--(BUSINESS WIRE)--May 6, 2016--
Halliburton Company (NYSE:HAL) announced today that, in connection with
the previously announced termination of the merger agreement between
Halliburton and Baker Hughes Incorporated (NYSE:BHI), it will redeem the
entire outstanding principal amount of its 2.700% Senior Notes due March
2020 and 3.375% Senior Notes due March 2022 (the “Notes”) pursuant to
the special mandatory redemption procedures set forth in the indenture
governing the terms of the Notes. The redemption date for the Notes is
May 12, 2016. The aggregate principal amount of the Notes outstanding is
$2.5 billion. The redemption price for each series of the Notes will
consist of the sum of 101% of the principal amount of the Notes
outstanding and any interest accrued and unpaid up to, but not
including, the redemption date. Halliburton plans to use cash on hand to
fund the special mandatory redemption.
Notices of redemption are being sent to all currently registered holders
of the Notes by the Trustee, The Bank of New York Mellon Trust Company,
N.A. For more information, holders of the Notes may call The Bank of New
York Mellon at 1-800-254-2826.
This press release is not an offer to sell or a solicitation of an offer
to buy any securities.
About Halliburton
Founded in 1919, Halliburton is one of the world's largest providers of
products and services to the energy industry. With over 55,000
employees, representing 140 nationalities in over 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.
Visit the company’s website at www.halliburton.com.
Connect with Halliburton on Facebook,
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LinkedIn,
and YouTube.
View source version on businesswire.com: http://www.businesswire.com/news/home/20160506005665/en/
Source: Halliburton
Halliburton
For Investors:
Lance Loeffler,
281-871-2633
Halliburton, Investor Relations
Investors@Halliburton.com
or
For
Media:
Emily Mir, 281-871-2601
Halliburton, Public
Relations
PR@Halliburton.com
