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Amerada Hess Corporation (NYSE: AHC) announced today that it had priced its
$2.5 billion domestic bond offering. Closing is expected to occur Wednesday,
August 15.
The offering will consist of four tranches:
- $500 million of 3-year bonds due August 15, 2004 carrying a coupon rate of 5.30%
- $500 million of 5-year bonds due August 15, 2006 carrying a coupon rate of 5.90%
- $750 million of 10-year bonds due August 15, 2011 carrying a coupon rate of 6.65%
- $750 million of 30-year bonds due August 15, 2031 carrying a coupon rate of 7.30%
Amerada Hess said it will use the proceeds from the offering in connection
with its acquisition of Trition Energy Limited.
About Amerada Hess Corporation
Amerada Hess, headquartered in New York, is a global integrated energy company
engaged in the exploration for and the production, purchase, transportation
and sale of crude oil and natural gas, as well as the production and sale of
refined petroleum products.
Exploration and production activities take place primarily in the United States,
the United Kingdom, Norway, Denmark, Brazil, Algeria, Gabon, Indonesia, Azerbaijan,
Thailand and Malaysia. Amerada Hess produces approximately 425,000 barrels of
oil equivalent per day, two-thirds of which is oil and one-third natural gas.
Amerada Hess' total proved oil and gas reserves at December 31, 2000 were about
1.1 billion barrels of oil equivalent.
In refining and marketing, Amerada Hess jointly owns with Petroleos de Venezuela
S.A. the 500,000 barrel per day refinery in St. Croix, United States Virgin
Islands. Amerada Hess markets refined petroleum products on the East Coast of
the United States through its terminal network and approximately 1,180 HESS
brand retail outlets.
Contact: Amerada Hess Corporation.......C.T. Tursi (212) 536-8593