Chevron Corp. (NYSE: CVX) intends to redeem Texaco Capital Bond on March 1.
The indenture trustee of the "Texaco Capital Inc. 7.5% Guaranteed Debentures Due 2043" with face value of $83.72 million has been notified that the bond will be redeemed as per the terms of the prospectus supplement dated March 4, 1993. Chevron is the guarantor of the debenture and is required to give 30 to 60 days notification to the indenture trustee prior to the redemption. The terms of the redemption are the face value plus a 2.717% premium and accrued interest.
Chevron stated the redemption is due to high associated coupon payments, and the transaction will be financed using existing cash, according to the release.
Recommended Reading
Granite Ridge Resources Declares Quarterly Dividend
2024-02-20 - Granite Ridge Resources’ dividend is payable March 15.
Permian E&P Midway Energy Partners Secures Backing from Post Oak
2024-02-09 - Midway Energy Partners will look to acquire and exploit opportunities in the Permian Basin with backing from Post Oak Energy Capital.
JMR Services, A-Plus P&A to Merge Companies
2024-03-05 - The combined organization will operate under JMR Services and aims to become the largest pure-play plug and abandonment company in the nation.
Matador Resources Declares Quarterly Dividend
2024-02-14 - Matador Resources will pay a $0.20 dividend on March 13 to shareholders of record by Feb. 23.
Uinta Basin: 50% More Oil for Twice the Proppant
2024-03-06 - The higher-intensity completions are costing an average of 35% fewer dollars spent per barrel of oil equivalent of output, Crescent Energy told investors and analysts on March 5.