Through an equity offering of 26 million shares priced yesterday at $48 each plus over allotments coupled with senior note offerings of US$2.25 billion, XTO will receive proceeds of around $3.5 billion. The company intends to use the net proceeds from the offerings to fund its pending acquisitions, to pay down commercial paper and for general corporate purposes, including future acquisitions.
Full Equity Story at http://phx.corporate-ir.net/phoenix.zhtml?c=97780&p=irol-newsArticle&ID=1182908&highlight=
Full Debt Story at http://phx.corporate-ir.net/phoenix.zhtml?c=97780&p=irol-newsArticle&ID=1183238&highlight=
Tuesday, August 5, 2008
XTO to Raise over US $3.5 Billion
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