Summary
EOG Resources, Inc. (EOG) filed an 8-K report on March 25, 2014, to announce the closing of its sale of $500 million in aggregate principal amount of 2.45% Senior Notes due 2020. This transaction was executed on March 21, 2014, under an existing indenture dated May 18, 2009, with Wells Fargo Bank, N.A. serving as trustee. The offering and sale of these notes were previously registered under the Securities Act of 1933 via a Form S-3 filing in December 2012. This issuance of senior notes represents a debt financing activity for EOG Resources. Investors should note that the company is raising capital through debt, which will impact its leverage and interest expense. The specific terms of the notes, including their maturity date and interest rate, are detailed within the filing. The 2.45% coupon rate is relatively low, suggesting potentially favorable borrowing costs for the company at that time.
Key Highlights
- 1EOG Resources closed the sale of $500 million in 2.45% Senior Notes due 2020 on March 21, 2014.
- 2The issuance of these notes was conducted under an existing Indenture dated May 18, 2009.
- 3Wells Fargo Bank, N.A. acts as the trustee for these Senior Notes.
- 4The offering was registered under the Securities Act of 1933 via a Form S-3 filing.
- 5This 8-K filing serves as notification of a material definitive agreement related to debt issuance.
- 6The filing includes exhibits detailing the Indenture, the Officers' Certificate, and the form of Global Note for the issued debt.