Summary
EOG Resources, Inc. (EOG) filed an 8-K on May 19, 2010, to report a material definitive agreement concerning the issuance of new debt. The company entered into an underwriting agreement on May 17, 2010, with several prominent underwriters, including Barclays Capital Inc., J.P. Morgan Securities Inc., UBS Securities LLC, and Wells Fargo Securities, LLC. This agreement pertains to the sale of $500 million in aggregate principal amount of 2.95% Senior Notes due 2015 and $500 million in aggregate principal amount of 4.40% Senior Notes due 2020, totaling $1 billion in new debt. The offering was conducted under EOG's shelf registration statement and was expected to close on May 20, 2010. The filing also includes customary provisions for representations, warranties, indemnification, and contribution between EOG and the underwriters.
Key Highlights
- 1EOG Resources entered into an underwriting agreement on May 17, 2010, to issue $1 billion in senior notes.
- 2The issuance consists of $500 million of 2.95% Senior Notes due 2015.
- 3The issuance also includes $500 million of 4.40% Senior Notes due 2020.
- 4The offering was made through a prospectus supplement filed with the SEC on May 19, 2010.
- 5The notes are issued under EOG's shelf registration statement on Form S-3.
- 6The underwriting agreement contains standard representations, warranties, and indemnification clauses.
- 7The offering was expected to close on May 20, 2010.