XTO Energy Inc. Announces Pricing of Offers to Purchase Certain of Its Debt Securities for Cash
IRVING, 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 December 17, 2010, are detailed in the table below:
UST Fixed Tender Accrued Title of CUSIP No. Reference Reference Spread Offer Total and Securities Security Yield (bps) Yield Consideration Unpaid Interest 7.50% 0.500% Senior UST due Notes due 98385XAA4 November 0.677% 27 0.947% $1,086.24 $12.92 April 15, 30, 2012 2012 5.90% 0.500% Senior UST due Notes due 98385XAK2 November 0.677% 4 0.717% $1,083.43 $22.29 August 1, 30, 2012 2012 6.25% 0.500% Senior UST due Notes due 98385XAC0 November 1.052% 27 1.322% $1,112.58 $10.76 April 15, 15, 2013 2013 4.625% 0.500% Senior UST due Notes due 98385XAN6 November 1.052% 13 1.182% $1,084.38 $0.26 June 15, 15, 2013 2013 5.75% 0.500% Senior UST due Notes due 98385XAS5 November 1.052% 37.5 1.427% $1,126.28 $0.32 December 15, 2013 15, 2013 4.90% 1.375% Senior UST due Notes due 98385XAD8 November 2.091% -50 1.591% $1,100.38 $18.51 February 30, 2015 1, 2014 5.00% 1.375% Senior UST due Notes due 98385XAF3 November 2.091% -10 1.991% $1,118.42 $19.03 January 30, 2015 31, 2015 5.30% 1.375% Senior UST due Notes due 98385XAG1 November 2.091% 5 2.141% $1,135.86 $24.59 June 30, 30, 2015 2015 5.65% 1.375% Senior UST due Notes due 98385XAH9 November 2.091% 35 2.441% $1,158.28 $11.93 April 1, 30, 2015 2016
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 December 9, 2010 by reference to the applicable Fixed Spread over the Reference Yield of the applicable UST Reference Security, as quoted on the Bloomberg Government Pricing Monitor on Pages BBT4, BBT5 and BBT6, as the case may be, at 2:00 p.m., New York City time, today, December 16, 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 December 17, 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, December 16, 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 866-952-2200 (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.
Source: Exxon Mobil Corporation
Released December 16, 2010