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WPX moves to buy back $450 million in senior notes

 

Tulsa’s WPX Energy has launched a bid to buy back $450 million in Senior Notes sold earlier.  And the buy-back amount could be increased, according to the announcement by WPX Energy.

The offer was for outstanding 6.000 percent senior notes due 2022 and 8.250 percent senior notes due 2023.

The terms and conditions of the Tender Offers are described in an Offer to Purchase, dated Sept. 10, 2019. WPX intends to fund the Tender Offers with the net proceeds of its proposed offering of debt securities and, if necessary, any other sources of available funds, which may include borrowings under its revolving credit facility.

The tender offers will expire at midnight, New York City time, at the end of Oct. 7, 2019, unless extended or earlier terminated by WPX. No tenders submitted after the Expiration Date will be valid.

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