XTO Energy Inc. Announces Pricing of Offers to Purchase Certain of Its Debt Securities for CashIRVING, Texas--(BUSINESS WIRE)--XTO Energy Inc. ("XTO"), a wholly-owned subsidiary of Exxon Mobil Corporation ("ExxonMobil") (NYSE: XOM), announced today the consideration to be paid in the previously announced cash tender offers (each, an "Offer") for any and all of its outstanding debt securities in the series specified in the table below (the "Securities"). The Securities are fully and unconditionally guaranteed by ExxonMobil, although such guarantee may be revoked in certain circumstances.
The applicable U.S. Treasury Reference Security, Reference Yield, Fixed Spread, Tender Offer Yield, Total Consideration and accrued and unpaid interest, assuming a settlement date of November 18, 2010, are detailed in the table below:
Title of Securities CUSIP No. UST Reference
6.25% Senior Notes
due August 1, 2017
1.875% UST due
October 31, 2017
$18.58 5.500% Senior Notes
due June 15, 2018
2.625% UST due
August 15, 2020
$23.38 6.50% Senior Notes
due December 15, 2018
2.625% UST due
August 15, 2020
The applicable Total Consideration payable for each $1,000 principal amount of the Securities validly tendered and accepted for payment pursuant to each Offer was determined in the manner described in the Offer to Purchase dated November 9, 2010 by reference to the applicable Fixed Spread over the Reference Yield of the UST Reference Security, as quoted on the Bloomberg Government Pricing Monitor on Page BBT7 at 2:00 p.m., New York City time, today, November 17, 2010. In addition to the Total Consideration, XTO will also pay accrued and unpaid interest on Securities purchased from the applicable last interest payment date up to, but not including, the settlement date. The settlement date for each Offer, unless such Offer is extended or earlier terminated, is currently expected to be November 18, 2010. To receive the applicable Total Consideration, holders of the Securities must validly tender and not validly withdraw their Securities prior to the expiration of the relevant Offer. Securities tendered may be withdrawn at any time prior to the expiration of the applicable Offer, by following the procedures described in the Offer to Purchase.
Each Offer will expire at 5:00 p.m., New York City time, today, November 17, 2010, unless extended or earlier terminated by XTO in its sole discretion. Holders of the Securities are urged to read carefully the Offer to Purchase and the related Letter of Transmittal before making any decision with respect to the Offers.
For additional information regarding the terms of the Offers, please contact the Dealer Managers: Barclays Capital Inc. at 800-438-3242 (toll free) or 212-528-7581, or J.P. Morgan Securities LLC at 866-834-4666 (toll free) or 212-834-4811. Requests for copies of the Offer to Purchase and related Letter of Transmittal may be directed to the Information Agent and Depositary, Global Bondholder Services Corporation, at 866-470-3900 (toll free) or 212-430-3774.
The obligation of XTO to accept for purchase and to pay the Total Consideration and the accrued and unpaid interest on Securities pursuant to each Offer is not subject to any minimum tender condition, but is subject to satisfaction or waiver of certain other conditions described in the Offer to Purchase. No Offer is conditioned on completion of any other Offer.
This news release shall not be construed as an offer to purchase or a solicitation of an offer to purchase any of the Securities or any other securities. XTO, subject to applicable law, may amend, extend or terminate the Offers and may postpone the acceptance for purchase of, and payment for, the Securities so tendered. The Offers are not being made in any jurisdiction in which the making or acceptance thereof would not be in compliance with the securities, blue sky or other laws of such jurisdiction. In any jurisdiction in which the Offers are required to be made by a licensed broker or dealer, they shall be deemed to be made on behalf of XTO by the Dealer Managers. None of XTO, ExxonMobil, the Dealer Managers, the Information Agent or the Depositary makes any recommendations as to whether holders of the Securities should tender their Securities pursuant to the Offers.
ExxonMobil, the largest publicly traded international oil and gas company, uses technology and innovation to help meet the world's growing energy needs. ExxonMobil holds an industry-leading inventory of resources, is the largest refiner and marketer of petroleum products, and its chemical company is one of the largest in the world. For more information, visit www.exxonmobil.com.
Posted: November 18, 2010
More Latest News »