Halliburton Announces Partial Redemption of 3.800% Senior Notes Due 2025

Rhea-AI Summary

Halliburton Company (NYSE: HAL) has announced the redemption of $600 million of its 3.800% Senior Notes due 2025, set for redemption on February 23, 2022. The total outstanding amount of these Notes is approximately $1 billion. The redemption price will be the greater of the principal amount or the present value of scheduled payments, plus accrued interest. The company intends to use cash on hand for this redemption. Notice has been sent to all registered holders of the Notes by the Trustee, The Bank of New York Mellon Trust Company, N.A.

Positive

• Redemption of $600 million in Senior Notes enhances financial flexibility.
• Using cash on hand for redemption indicates strong liquidity position.

Negative

• None.

HOUSTON--(BUSINESS WIRE)-- Halliburton Company (NYSE: HAL) announced today that it has called for redemption $600,000,000 aggregate principal amount of its 3.800% Senior Notes due 2025 (the “Notes”). The redemption date for the Notes is February 23, 2022. The aggregate principal amount of the Notes currently outstanding is approximately $1 billion. The redemption price for the Notes will consist of the sum of (1) the greater of (a) 100% of the principal amount of the Notes outstanding or (b) the sum of the present values of the remaining scheduled payments of principal and interest on the outstanding Notes discounted to the redemption date on a semi-annual basis at the treasury rate plus 25 basis points, as determined by an independent investment banker, and (2) accrued and unpaid interest on the Notes, if any, up to, but excluding, the redemption date. Halliburton plans to use cash on hand to fund the redemption of the Notes. A notice of redemption has been sent to all currently registered holders of the Notes by the Trustee, The Bank of New York Mellon Trust Company, N.A.

This press release is not an offer to sell or a solicitation of an offer to buy any securities.

FORWARD LOOKING STATEMENTS

This press release contains forward-looking statements that involve risks and uncertainties. Factors that could cause actual results to differ materially from those expressed or implied by the forward-looking statements in this press release are discussed in our Annual Report on Form 10-K for the year ended December 31, 2020, Form 10-Q for the quarter ended September 30, 2021, recent Current Reports on Form 8-K and other Securities and Exchange Commission filings, which discuss some of the important risk factors identified that may affect Halliburton's business, results of operations, and financial condition. Halliburton undertakes no obligation to revise or update publicly any forward-looking statements for any reason.

About Halliburton

Founded in 1919, Halliburton is one of the world's largest providers of products and services to the energy industry. With more than 40,000 employees, representing 130 nationalities in more than 70 countries, the company helps its customers maximize value throughout the lifecycle of the reservoir – from locating hydrocarbons and managing geological data, to drilling and formation evaluation, well construction and completion, and optimizing production throughout the life of the asset. Visit the company’s website at www.halliburton.com. Connect with Halliburton on Facebook, Twitter, LinkedIn, Instagram and YouTube.

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For Investors:

David Coleman

Investor Relations

Investors@Halliburton.com

281-871-2688

For News Media:

Emily Mir

External Affairs

PR@Halliburton.com

281-871-2601

Source: Halliburton Company

FAQ

What amount of Senior Notes is Halliburton redeeming?

Halliburton is redeeming $600 million of its 3.800% Senior Notes due 2025.

When is the redemption date for Halliburton's Senior Notes?

The redemption date for Halliburton's Senior Notes is February 23, 2022.

What is the total outstanding amount of Halliburton's Senior Notes?

The total outstanding amount of Halliburton's Senior Notes is approximately $1 billion.

How will Halliburton fund the redemption of its Senior Notes?

Halliburton plans to use cash on hand to fund the redemption of the Senior Notes.

Who is the trustee for Halliburton's Senior Notes?

The trustee for Halliburton's Senior Notes is The Bank of New York Mellon Trust Company, N.A.