Chevron Press Release - Chevron To Redeem Debentures
SAN FRANCISCO, April 22, 1996 -- Chevron Corporation today announced it has elected to redeem on June 1, 1996, all of its outstanding 9 3/8 percent Debentures Due 2016, at a redemption price of 104.00 percent of the principal amount, plus accrued and unpaid interest to the redemption date. The outstanding face value of these Debentures is $280 million.
This action will allow Chevron to replace these bonds with debt at a lower interest rate, thereby reducing Chevron's interest expense.
Updated: April 1996