Occidental Announces Cash Tender Offers and Consent Solicitations for Certain of its Senior Notes and Debentures

Core Viewpoint - Occidental has initiated cash tender offers for its outstanding senior notes and debentures, along with consent solicitations for certain series, as detailed in their Offer to Purchase and Consent Solicitation Statement dated February 19, 2026 [1][5]. Summary by Relevant Sections Tender Offers - Occidental is offering to purchase up to $700 million in aggregate principal amount of various notes, including Zero Coupon Senior Notes due 2036, 6.125% Senior Notes due 2031, 6.625% Senior Notes due 2030, and 7.200% and 7.950% Debentures due 2029 [5][11]. - The company will only accept up to $58 million of the Zero Coupon Senior Notes due 2036, subject to the order of priority [5][10]. Consent Solicitations - As part of the tender offers, Occidental is soliciting consents from holders of specific notes for proposed amendments that would eliminate certain covenants and change the notice period for redemptions [11][12]. - Holders must tender their notes to deliver consents, and the proposed amendments will become operative upon acceptance of the requisite principal amount [12][13]. Key Dates - The tender offers and consent solicitations will expire at 5:00 p.m. New York City time on March 19, 2026, unless extended or terminated earlier [6][8]. - Early tender time is set for 5:00 p.m. on March 4, 2026, with early settlement expected three business days after this date [7][9]. Financial Details - The total consideration for each $1,000 principal amount of notes validly tendered will be determined based on a fixed spread over the yield of the applicable U.S. Treasury security [6][7]. - Holders of notes tendered will also receive accrued and unpaid interest from the last payment date to the settlement date [7][9]. Management and Agents - Citigroup Global Markets Inc. is the sole Lead Dealer Manager for the tender offers, with several co-managers assisting [14].