APA Corporation Announces Exchange and Tender Offers for Apache Notes
HOUSTON, Dec. 03, 2024 (GLOBE NEWSWIRE) — APA Corporation (“APA”) (Nasdaq: APA) announced today that it has commenced offers to exchange (the “Exchange Offers”) any and all validly tendered and accepted notes issued by Apache Corporation, its wholly-owned subsidiary (“Apache”), for new notes to be issued by APA as described in the table below titled “Exchange Offers” and to purchase for cash (the “Tender Offers” and together with the Exchange Offers, the “Offers”) up to $1,000,000,000 aggregate principal amount of any and all validly tendered and accepted Apache notes listed in the table below titled “Tender Offers” (collectively, the “Apache Tender Notes”), subject to the applicable Series Cap and the Maximum Purchase Amount (each as defined below), in each case for the consideration described in the Offering Memorandum (as defined below) and summarized in the respective tables below.
Only holders who have duly completed and returned an eligibility letter certifying that they are either (1) a “qualified institutional buyer” (“QIB”) as defined in Rule 144A under the Securities Act of 1933, as amended (the “Securities Act”) or (2) a non-“U.S. person” (as defined in Rule 902 under the Securities Act) located outside of the United States and who is a “Non-U.S. qualified offeree” (as defined in the eligibility letter) are authorized to receive the Offering Memorandum and to participate in the Offers (each such holder, an “Eligible Holder”). The eligibility letter is available electronically. Capitalized terms used in this release but not otherwise defined have the meaning given in the Offering Memorandum.
APA Corporation is making bold moves in the financial market with its recent announcement of Exchange and Tender Offers for Apache notes. By offering the opportunity to exchange existing notes for new ones, APA is providing a strategic option for investors looking to optimize their holdings. The cash tender offers also demonstrate APA’s commitment to maximizing value for stakeholders.
The eligibility criteria set by APA ensure that participation in the Offers is limited to qualified institutional buyers and non-U.S. persons, adding a layer of exclusivity to the process. This targeted approach is designed to attract sophisticated investors who can fully leverage the benefits of the Exchange and Tender Offers.
APA’s proactive stance in the market reflects a forward-thinking approach to capital management. By providing clear guidelines and detailed information through the Offering Memorandum, APA is fostering transparency and trust with investors. This level of communication is essential in complex financial transactions to ensure all parties are well-informed.
Impact on Me:
As a potential investor, APA’s Exchange and Tender Offers present a unique opportunity to reassess my investment portfolio and potentially optimize returns. By carefully reviewing the details provided in the Offering Memorandum and meeting the eligibility criteria, I can consider participating in the Offers to potentially enhance my investment position.
Impact on the World:
APA’s Exchange and Tender Offers have the potential to influence the broader financial market by setting a precedent for strategic capital management. The innovative approach taken by APA could inspire other companies to explore similar initiatives, leading to a ripple effect of enhanced value creation and investment opportunities.
Conclusion:
APA Corporation’s announcement of Exchange and Tender Offers for Apache notes marks a significant milestone in the financial landscape. By offering a structured opportunity for investors to optimize their holdings, APA is demonstrating a commitment to value creation and strategic capital management. The impact of these Offers extends beyond individual investors, potentially shaping the future trajectory of the financial market. With careful consideration and adherence to the eligibility criteria, participating in APA’s Offers could yield favorable outcomes for stakeholders.
