Halliburton Announces the Redemption of Senior Notes Due 2021

Rhea-AI Summary

Halliburton (NYSE: HAL) announced the redemption of its entire $500 million outstanding principal amount of 3.25% Senior Notes due August 15, 2021. The redemption will include 100% of the principal plus accrued interest up to the redemption date. Cash on hand will fund this redemption, and a notice will be sent to registered holders of the Notes. The company emphasizes that the press release contains forward-looking statements that may involve risks and uncertainties.

Positive

• Redemption of $500 million in Senior Notes improves balance sheet.
• Funding redemption with cash on hand indicates strong liquidity position.

Negative

• None.

Halliburton (NYSE: HAL) announced today that it will redeem the entire outstanding principal amount of its 3.25% Senior Notes due 2021 (the “Notes”). The redemption date for the Notes is August 15, 2021. The aggregate principal amount of the Notes outstanding is $500 million. The redemption price for the Notes will consist of 100% of the principal amount of the Notes outstanding, plus 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 is being 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. 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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FAQ

What is Halliburton planning to do with its 3.25% Senior Notes due 2021?

Halliburton will redeem the entire outstanding principal amount of its 3.25% Senior Notes due August 15, 2021.

How much is Halliburton redeeming in Senior Notes?

Halliburton is redeeming $500 million in Senior Notes.

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

The redemption date for Halliburton's Senior Notes is August 15, 2021.

What will the redemption price for the Senior Notes include?

The redemption price will consist of 100% of the principal amount plus accrued interest up to the redemption date.

How will Halliburton fund the redemption of the Senior Notes?

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