Issuer:
|
Apache Corporation | |||
Anticipated Ratings | A3 / A- / A (Stable / Stable / Negative) | |||
(Moodys / S&P / Fitch): |
||||
Settlement:
|
October 1, 2008; T+3 | |||
Trade Date:
|
September 26, 2008 | |||
Registration:
|
Registration Statement | |||
No. 333 -141867 | ||||
Interest Payment Dates: | Semi-annually on March 15 and September 15, commencing March 15, 2009 | |||
Security Description:
|
6.000% Notes due 2013 | 6.900% Notes due 2018 | ||
Principal Amount:
|
$400,000,000 | $400,000,000 | ||
Maturity:
|
September 15, 2013 | September 15, 2018 | ||
Coupon:
|
6.000% | 6.900% | ||
Benchmark Treasury:
|
3.125% due 8/31/2013 | 4.000% due 8/15/2018 | ||
Benchmark Treasury Yield:
|
3.025% | 3.858% | ||
Spread to Benchmark
Treasury:
|
+310 bps | +310 bps | ||
Yield to Maturity:
|
6.125% | 6.958% | ||
Initial Price to Public:
|
99.476% per Note | 99.593% per Note |
Redemption Provisions:
|
The notes will be redeemable, at the option of Apache Corporation, at any time, in whole or in part, at a redemption price equal to the greater of | The notes will be redeemable, at the option of Apache Corporation, at any time, in whole or in part, at a redemption price equal to the greater of | ||
(i) 100% of the principal amount and | (i) 100% of the principal amount and | |||
(ii) the sum of the present values of the remaining scheduled payments of principal and interest thereon discounted, on a semi-annual basis, at the treasury yield plus 50 basis points, plus accrued interest to the date of redemption. | (ii) the sum of the present values of the remaining scheduled payments of principal and interest thereon discounted, on a semi-annual basis, at the treasury yield plus 50 basis points, plus accrued interest to the date of redemption. | |||
Denominations:
|
$2,000 or any integral multiple of $1,000 in excess thereof | $2,000 or any integral multiple of $1,000 in excess thereof | ||
CUSIP:
|
037411 AU9 | 037411 AV7 | ||
Joint Book-Running Managers:
|
Goldman, Sachs & Co. | |||
J.P. Morgan Securities Inc. | ||||
Co-Managers:
|
Banc of America Securities LLC | |||
Citigroup Global Markets Inc. |