8-KOther Events

OCCIDENTAL PETROLEUM CORP /DE/ 8-K Report (Aug 12, 2002)

Filed August 12, 2002For Securities:OXYOXY-WT

Summary

This 8-K filing from Occidental Petroleum Corporation (OXY) on August 12, 2002, primarily serves as a Regulation FD disclosure. The core of the filing relates to a press release issued by the company on August 9, 2002. This press release announced a significant debt offering: Occidental Petroleum intended to offer $500 million in senior notes due 2012. Investors should note that this offering was a key event for the company's financing strategy at the time. The proceeds from this debt issuance were earmarked for general corporate purposes, which could include capital expenditures, debt repayment, or potential acquisitions. The timing and scale of this offering suggest Occidental was actively managing its capital structure and seeking to fund its ongoing operations and growth initiatives.

Key Highlights

  • 1Occidental Petroleum announced its intention to offer $500 million in senior notes due 2012.
  • 2The filing is made under Regulation FD, indicating public disclosure of material information.
  • 3Proceeds from the note offering are designated for general corporate purposes.
  • 4The issuance represents a significant debt financing event for the company.
  • 5This filing occurred on August 12, 2002, with the earliest event reported on August 9, 2002.
  • 6The company is incorporated in Delaware and headquartered in Los Angeles, California.

Frequently Asked Questions

This 8-K filing was made to publicly disclose Occidental Petroleum's intention to offer $500 million in senior notes due 2012, in compliance with Regulation FD.

The proceeds from the senior notes offering are intended for general corporate purposes. This is a broad category that typically includes funding capital expenditures, repaying existing debt, or pursuing strategic opportunities such as acquisitions.

The senior notes being offered have a maturity date of 2012.

Regulation FD (Fair Disclosure) ensures that when a public company discloses material non-public information, it does so broadly and non-exclusively to the public, preventing selective disclosure to analysts or institutional investors.