(Bloomberg) — Occidental Petroleum Corp. is selling new high-yield debt to fund its planned buyback of up to $1.5 billion of bonds maturing in the coming years as it seeks to tackle its wall of upcoming maturities.The Houston-based company is issuing five-, seven- and 10-year unsecured notes to fund its repurchase offer and refinance existing debt, according to a person familiar with the matter, who asked not to be named because the offering is private. Occidental said in a regulatory filing Thursday that it may take a $6 billion to $9 billion writedown in the second quarter as it deals …read more
Source:: Yahoo Finance
