Occidental to issue $2.6 bln debt in 3-part sale – IFR

Dec 13 (BestGrowthStock) – Occidental Petroleum Corp (OXY.N: ) is
planning to issue debt worth $2.6 billion in a three-part sale,
IFR reported.

The fourth-largest U.S. oil company plans to issue
three-year notes worth $600 million, five-year notes worth $700
million and 10-year bonds worth $1.3 billion, IFR, a Thomson
Reuters service, said.

Occidental plans to use the proceeds for general and
corporate purposes including funding recent acquisitions.

Early guidance for the three-year notes was to price at a
yield spread of 50 to 55 basis points and the five-year notes
to price at a yield spread of 60 to 65 basis points over
comparable treasuries.

The 10-year bonds are expected to be priced at a yield
spread of 80 to 85 basis points over comparable treasuries.
(Reporting by Santosh Nadgir in Bangalore)

Occidental to issue $2.6 bln debt in 3-part sale – IFR