APA Corp. announces expiration, final results of private exchange offers

APA Corporation announced the final results as of 5:00 p.m., New York City time, on January 7, 2025 of the previously announced offers to exchange any and all validly tendered and accepted notes and debentures issued by Apache Corporation, its wholly-owned subsidiary, for new notes to be issued by APA offers to purchase for cash up to $1,000,000,000 aggregate principal amount of any and all validly tendered and accepted Apache Notes of certain series and solicitations of consents to certain proposed amendments to the applicable indenture under which each series of Apache Notes was issued. APA also announced that it has waived the Financing Condition in connection with the pricing of its previously announced private notes offering. The Offers are expected to settle on January 10, 2025. Apache Notes that have been validly tendered and accepted in the Offers will be purchased or exchanged, retired and cancelled on the Settlement Date. The payment of each series of the APA Notes issued in the Exchange Offers will be guaranteed by Apache on substantially the same terms as the guarantees under APA’s 2022 syndicated credit facilities, including that such guarantees will be effective until the first time that the aggregate principal amount of indebtedness under senior notes and debentures outstanding under Apache’s existing indentures is less than $1,000,000,000, provided that if the aggregate principal amount of such indebtedness is less than $1,000,000,000 as of the Settlement Date, then the reason for such guarantees would have ceased to exist and no guarantees would be issued with respect to the APA Notes.