ConocoPhillips Prices $2 Billion Senior Notes Offering
Ticker: COP · Form: 8-K · Filed: 2024-07-12T00:00:00.000Z
Sentiment: neutral
Topics: debt-offering, financing, notes
Related Tickers: COP
TL;DR
COP just priced $2B in 2034 notes at 5.250% - funds for general corporate stuff.
AI Summary
On July 11, 2024, ConocoPhillips announced the pricing of its offering of $2.0 billion aggregate principal amount of 5.250% senior notes due 2034. The offering is expected to close on July 16, 2024. ConocoPhillips intends to use the net proceeds from the offering for general corporate purposes, which may include funding capital expenditures, working capital, and potential acquisitions.
Why It Matters
This offering provides ConocoPhillips with significant capital, potentially for expansion or strategic initiatives, impacting its financial flexibility and future growth prospects.
Risk Assessment
Risk Level: low — The filing is a routine debt offering announcement with no immediate negative implications for the company.
Key Numbers
- $2.0B — Senior Notes Offering (ConocoPhillips priced $2.0 billion in senior notes.)
- 5.250% — Interest Rate (The notes carry an interest rate of 5.250%.)
- 2034 — Maturity Year (The senior notes are due in 2034.)
Key Players & Entities
- ConocoPhillips (company) — Registrant
- $2.0 billion (dollar_amount) — Aggregate principal amount of senior notes
- 5.250% (dollar_amount) — Interest rate on senior notes
- 2034 (date) — Maturity year of senior notes
- July 11, 2024 (date) — Date of pricing
- July 16, 2024 (date) — Expected closing date
FAQ
What is the purpose of the $2.0 billion senior notes offering?
ConocoPhillips intends to use the net proceeds for general corporate purposes, which may include funding capital expenditures, working capital, and potential acquisitions.
When was the offering priced?
The offering was priced on July 11, 2024.
What is the maturity date of the senior notes?
The senior notes are due in 2034.
What is the interest rate on the new senior notes?
The senior notes have a fixed rate of 5.250% per annum.
When is the offering expected to close?
The offering is expected to close on July 16, 2024.
From the Filing
0001104659-24-079373.txt : 20240712 0001104659-24-079373.hdr.sgml : 20240712 20240712063046 ACCESSION NUMBER: 0001104659-24-079373 CONFORMED SUBMISSION TYPE: 8-K PUBLIC DOCUMENT COUNT: 14 CONFORMED PERIOD OF REPORT: 20240711 ITEM INFORMATION: Other Events FILED AS OF DATE: 20240712 DATE AS OF CHANGE: 20240712 FILER: COMPANY DATA: COMPANY CONFORMED NAME: CONOCOPHILLIPS CENTRAL INDEX KEY: 0001163165 STANDARD INDUSTRIAL CLASSIFICATION: PETROLEUM REFINING [2911] ORGANIZATION NAME: 01 Energy & Transportation IRS NUMBER: 010562944 STATE OF INCORPORATION: DE FISCAL YEAR END: 1231 FILING VALUES: FORM TYPE: 8-K SEC ACT: 1934 Act SEC FILE NUMBER: 001-32395 FILM NUMBER: 241113144 BUSINESS ADDRESS: STREET 1: 925 N. ELDRIDGE PARKWAY CITY: HOUSTON STATE: TX ZIP: 77079 BUSINESS PHONE: 281-293-1000 MAIL ADDRESS: STREET 1: SHIPPING & RECEIVING CENTER STREET 2: 16930 PARK ROW DR. CITY: HOUSTON STATE: TX ZIP: 77084 FORMER COMPANY: FORMER CONFORMED NAME: CORVETTEPORSCHE CORP DATE OF NAME CHANGE: 20011204 8-K 1 tm2415645d9_8k.htm FORM 8-K false 0001163165 0001163165 2024-07-11 2024-07-11 0001163165 us-gaap:CommonStockMember 2024-07-11 2024-07-11 0001163165 cop:SevenPercentDebenturesDueTwentyTwentyNineMember 2024-07-11 2024-07-11 iso4217:USD xbrli:shares iso4217:USD xbrli:shares       UNITED STATES SECURITIES AND EXCHANGE COMMISSION Washington, D.C. 20549    FORM 8-K   CURRENT REPORT     Pursuant to Section 13 or 15(d) of the Securities Exchange Act of 1934   Date of Report (date of earliest event reported): July 12, 2024 ( July 11, 2024 )   ConocoPhillips (Exact name of registrant as specified in its charter)   Delaware   001-32395   01-0562944 (State or other jurisdiction of incorporation)   (Commission File Number)   (I.R.S. Employer Identification No.)   925 N. Eldridge Parkway Houston , Texas 77079 (Address of principal executive offices and zip code)   Registrant’s telephone number, including area code: ( 281 ) 293-1000   Check the appropriate box below if the Form 8-K filing is intended to simultaneously satisfy the filing obligation of the registrant under any of the following provisions:   x    Written communications pursuant to Rule 425 under the Securities Act (17 CFR 230.425)   ¨    Soliciting material pursuant to Rule 14a-12 under the Exchange Act (17 CFR 240.14a-12)   ¨    Pre-commencement communications pursuant to Rule 14d-2(b) under the Exchange Act (17 CFR 240.14d-2(b))   ¨    Pre-commencement communications pursuant to Rule 13e-4(c) under the Exchange Act (17 CFR 240.13e-4(c))    Securities registered pursuant to Section 12(b) of the Act:   Title of each class   Trading Symbol(s)   Name of each exchange on which registered Common Stock, $.01 Par Value   COP   New York Stock Exchange 7% Debentures due 2029   CUSIP – 718507BK1   New York Stock Exchange   Indicate by check mark whether the registrant is an emerging growth company as defined in Rule 405 of the Securities Act of 1933 (§230.405 of this chapter) or Rule 12b-2 of the Securities Exchange Act of 1934 (§240.12b-2 of this chapter).   Emerging growth company   ¨   If an emerging growth company, indicate by check mark if the registrant has elected not to use the extended transition period for complying with any new or revised financial accounting standards provided pursuant to Section 13(a) of the Exchange Act.    ¨           Item 8.01 Other Events.   As previously disclosed, on May 28, 2024, ConocoPhillips, a Delaware corporation (“ConocoPhillips”), entered into an Agreement and Plan of Merger (the “Merger Agreement”) with Marathon Oil Corporation (“Marathon”), a Delawar