Andarko Petroleum sets $900M senior notes pricing

Anadarko Petroleum Corp. released pricing details Tuesday for its public offering of $900 million in senior notes.

The notes will be issued in three tranches. Fixed-rate notes due in 2014 worth $475 million will have a coupon of 5.75 percent; fixed-rate notes due in 2019 worth $300 million will have a coupon of 6.95 percent; and fixed-rate notes due in 2039 worth $329 million will have a coupon of 7.95 percent.

Anadarko expects the offering to close on June 12. The company expects to use the some of the proceeds to redeem some of its $913 million in outstanding floating rate notes due Sept. 15.

Shares of Anadarko closed up 23 cents at $48.46.