Amerada Hess Corporation Announces Tender Offers for Up to $594 Million of Its Outstanding Debt
November 17 2003 - 7:24AM
PR Newswire (US)
Amerada Hess Corporation Announces Tender Offers for Up to $594
Million of Its Outstanding Debt NEW YORK, Nov. 17
/PRNewswire-FirstCall/ -- Amerada Hess Corporation announced today
that it intends to offer to purchase for cash up to an aggregate
$593,657,000 in principal amount of its outstanding debt. The offer
is for any and all of its outstanding 5.30% Notes due August 15,
2004 (the "2004 Notes") and 5.90% Notes due August 15, 2006 (the
"2006 Notes"), and the 9.25% Notes due April 15, 2005 (the "2005
Notes") and 8.875% Notes due October 1, 2007 (the "2007 Notes") of
Triton Energy Limited and Triton Energy Corporation which were
assumed by Amerada Hess. Each tender offer will commence on Monday,
November 17, 2003, and expire at 12:00 (noon), New York City time,
on Wednesday, November 26, 2003 for the 2004 Notes, the 2005 Notes
and the 2007 Notes and Tuesday, December 16, 2003 for the 2006
Notes, unless earlier terminated or extended by the Corporation
(the "Expiration Time"). Holders who validly tender 2006 Notes on
or prior to December 2, 2003 will receive the total consideration.
Holders who validly tender 2006 Notes after December 2, 2003 will
receive $7.50 less per $1,000 principal amount of 2006 Notes
tendered than Holders who tendered before December 2, 2003. This
mechanism does not apply to Holders tendering 2004 Notes, 2005
Notes or 2007 Notes. Holders of the notes wishing to tender may do
so at anytime between 9:00 a.m. and 5:00 p.m., New York City time,
on any New York Stock Exchange trading day during the period in
which the offers are open. Tendered notes may be withdrawn at any
time at or prior to the Expiration Time. The Corporation reserves
the right to terminate, withdraw or amend the offer at any time and
from time to time, subject to applicable law. The offers are
conditioned on the completion of Amerada Hess' concurrent offering
of preferred stock. The table below illustrates how the purchase
price for each $1,000 principal amount of each note tendered
pursuant to the offer will be determined. The purchase price will
be determined in the manner described in the offer to purchase
documents by reference to a fixed spread specified for the notes
over the reference yield based on the bid side price of the U.S.
Treasury Reference Security specified below, as calculated on the
third business day preceding the date on which the tender offer
expires, plus accrued and unpaid interest thereon up to, but not
including, the date of payment of such purchase price. Aggregate
Principal CUSIP Amount Number Outstanding Series of Notes Maturity
Date 023551AK0 $135,765,000 5.30% Notes 8/15/04 023551AG9
$362,251,000 5.90% Notes 8/15/06 89675VAB4 $47,766,000 9.25% Notes
4/15/05 89676KAC5 $47,875,000 8.875% Notes 10/1/07 Aggregate
Principal CUSIP Amount Maturity Number Outstanding Series of Notes
Date 023551AK0 2.125% due 08/31/04 PX3 0.25% 023551AG9 2.375% due
08/15/06 PX5 0.75% 89675VAB4 1.625% due 04/30/05 PX4 0.60%
89676KAC5 2.125% due 10/31/04 PX3 0.50% The tender offer is made
upon the terms and subject to the conditions set forth in the offer
to purchase documents dated November 17, 2003. Goldman, Sachs &
Co. will serve as Dealer Manager for the tender offers. Settlement
of the tender offers will occur on the third New York City business
day following the Expiration Date. Questions concerning the terms
of the tender offers may be directed to Goldman, Sachs & Co at
(800) 828-3182. Questions concerning the procedures for tendering
notes or requests for the offer to purchase documents may be
directed to D.F. King & Co., the Information Agent, at
800-848-3416 or 212-269-5550. 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. DATASOURCE: Amerada Hess
Corporation CONTACT: Jay Wilson of Amerada Hess Corporation,
+1-212-536-8940
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