HOUSTON – Bracewell LLP represented APA Corporation (Nasdaq: APA) in its recent offers to exchange certain outstanding debt securities of Apache Corporation, its wholly owned subsidiary, for new senior notes issued by APA, and to purchase for cash up to $1 billion of certain of such outstanding debt securities. The total consideration paid in both newly issued senior notes of APA and cash was $3.6 billion. Apache also solicited consents from the holders of the Apache debt securities to amend the related indentures.
Bracewell also represented APA in its $850 million private senior notes offering, the net proceeds of which were used to fund a portion of the purchase of Apache debt securities in the tender offers.
The lead dealer managers for the exchange and tender offers were BofA Securities, HSBC, Mizuho and RBC Capital Markets. The joint book-running managers for the private notes offering were J.P. Morgan, MUFG, Scotiabank and TD Securities.
The transactions closed on January 10, 2025.
Bracewell lawyers involved in this transaction included:
Partners: Troy L. Harder, Will Anderson, J. Dean Hinderliter and Matthew B. Grunert
Associates: Shannon Baldwin, Ben Meredith and Sydney Kate Watkins
