Devon Energy Announces Early Redemption of Senior Notes
June 27 2019 - 4:51PM
Devon Energy Corp. (NYSE: DVN) announced today that it will redeem
$1.5 billion in Senior Notes. This redemption covers all of the
company’s outstanding 4.00% Senior Notes due 2021 and 3.25% Senior
Notes due 2022.
The notes will be redeemed at a redemption price of 100 percent
of the principal amount, plus accrued and unpaid interest, as well
as a make-whole premium. For each series of notes, accrued interest
will be paid to, but excluding, the redemption date of July 27,
2019. The make-whole premium will be calculated three business days
prior to redemption in accordance with the terms of the
indenture.
The terms of the redemption are described in the notice of
redemption sent to registered holders on or about June 27, 2019.
Notes are to be surrendered to UMB Bank, National Association, as
trustee and paying agent, in exchange for the payment of the
redemption price.
Forward-Looking Statements
This press release includes "forward-looking statements" as
defined by the Securities and Exchange Commission (SEC). Such
statements are those concerning strategic plans, expectations and
objectives for future operations. All statements, other than
statements of historical facts, included in this press release that
address activities, events or developments that the company
expects, believes or anticipates will or may occur in the future
are forward-looking statements. Such statements are subject to a
number of assumptions, risks and uncertainties, many of which are
beyond the control of the company. These risks are identified in
our Form 10-K and our other filings with the SEC. Investors are
cautioned that any such statements are not guarantees of future
performance and that actual results or developments may differ
materially from those projected in the forward-looking statements.
The forward-looking statements in this press release are made as of
the date of this press release, even if subsequently made available
by Devon on its website or otherwise. Devon does not undertake any
obligation to update the forward-looking statements as a result of
new information, future events or otherwise.
About Devon Energy
Devon Energy is a leading independent energy company engaged in
finding and producing oil and natural gas. Based in Oklahoma City
and included in the S&P 500, Devon operates in several of the
most prolific oil and natural gas plays in the U.S. with an
emphasis on achieving strong returns and capital-efficient
cash-flow growth. For more information, please visit
www.devonenergy.com.
Investor Contacts |
Media
Contact |
Scott Coody, 405-552-4735 |
John Porretto, 405-228-7506 |
Chris Carr, 405-228-2496 |
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