Breaking News: APA Corporation Sees Success in Private Exchange and Tender Offers with Early Consent Date Extension and Waiver of Requisite Condition!
HOUSTON, Dec. 17, 2024 (GLOBE NEWSWIRE) — APA Corporation (“APA”) (Nasdaq: APA) announced today the early results as of 5:00 p.m., New York City time, on December 16, 2024 (the “Original Early Consent Date”) of the previously announced (i) offers to exchange (the “Exchange Offers”) any and all validly tendered and accepted notes and debentures listed in the table below issued by Apache Corporation, its wholly-owned subsidiary (“Apache”), for new notes to be issued by APA (the “APA Notes”), (ii) offers to purchase for cash (the “Tender Offers” and together with the Exchange Offers, the “Offers”) up to $1,000,000,000 aggregate principal amount of any and all validly tendered and accepted Apache Notes of certain series (the “Apache Tender Notes”), and (iii) solicitations of consents (the “Consent Solicitations”) to certain proposed amendments (the “Proposed Amendments”) to the applicable indenture under which each series of Apache Notes was issued. Additionally, APA announced that the date by which Eligible Holders (as defined in the Offering Memorandum referred to below) must validly tender their Apache Notes to receive the Exchange Total Consideration or the Tender Total Consideration (each as described below), as applicable, for each Offer has been extended to 5:00 p.m., New York City time, on December 20, 2024 (the “Extended Early Consent Date”). The Offers and Consent Solicitations will now expire at 5:00 p.m., New York City time, on January 7, 2025 (the “Expiration Time”), and the Offers are now expected to settle on January 10, 2025 (the “Settlement Date”).
APA Corporation has made significant progress in its private exchange and tender offers, with the extension of the early consent date and the waiver of the requisite condition. This move showcases the company’s commitment to its stakeholders and enhancing shareholder value. By allowing more time for eligible holders to participate in the exchange and tender offers, APA is ensuring a smoother transition and maximizing participation.
This strategic decision by APA Corporation will have a positive impact on its financial standing and overall market perception. By successfully executing these offers and consent solicitations, APA is demonstrating its ability to navigate complex financial transactions efficiently. The extension of the early consent date provides additional flexibility for stakeholders, while the waiver of the requisite condition streamlines the process for all parties involved.
Overall, APA Corporation’s success in these private exchange and tender offers signifies a step in the right direction for the company’s growth and future prospects. The extended early consent date and waiver of the requisite condition reflect APA’s dedication to fostering a conducive environment for its stakeholders and driving sustainable value creation. As the Offers and Consent Solicitations move towards the expiration and settlement dates, APA is poised to emerge stronger and more resilient in the competitive market landscape.
How will this affect me?
As a stakeholder or investor in APA Corporation, the success of these private exchange and tender offers is good news for you. It shows that the company is actively working to enhance shareholder value and improve its financial position. The early consent date extension and waiver of the requisite condition provide you with more flexibility and opportunities to participate in these offers, potentially leading to favorable outcomes for your investment.
How will this affect the world?
APA Corporation’s success in the private exchange and tender offers could have a ripple effect on the world economy. By demonstrating effective financial management and strategic decision-making, APA sets a positive example for other corporations in the global market. The company’s commitment to creating value for its stakeholders and conducting business in a transparent manner can inspire trust and confidence in the wider business community.
Conclusion:
In conclusion, APA Corporation’s achievement in the private exchange and tender offers, with the early consent date extension and waiver of the requisite condition, signifies a significant milestone in the company’s financial strategy. By providing more time and flexibility for eligible holders to participate, APA is paving the way for a successful outcome and reinforcing its commitment to stakeholder value. As the Offers and Consent Solicitations move towards completion, APA is poised for continued growth and success in the competitive market landscape.
