Texaco Press Release - Texaco Announces Public Issuance of $400 Million in 10-year Debt Securities
FOR IMMEDIATE RELEASE: WEDNESDAY, JANUARY 20, 1999.
WHITE PLAINS, N.Y., January 20 - Texaco Capital Inc., a wholly-owned finance subsidiary of Texaco Inc., announced that it is issuing $400 million of 10-year notes in a public offering. These securities, which will mature on January 15, 2009, are being offered at a price of 99.133 percent of par with an interest coupon rate of 5.5 percent. Texaco Inc. will unconditionally guarantee the securities.
Proceeds from the sale will be used for working capital, for retirement of debt and for other general corporate purposes.
The sale is being offered through an underwriting group led by Salomon Smith Barney and co-managed by Blaylock & Partners, L.P., Merrill Lynch, Morgan Stanley Dean Witter, Ormes Capital Markets, Inc. and The Williams Capital Group, L.P. The debt securities are issued under a shelf registration statement that was filed with the Securities and Exchange Commission in February 1998.
Updated: January 1999