Davis Polk acted as special product counsel to the sole book-running manager and the representative of the underwriters in connection with the offering of 8,000,000 7.50% tangible equity units of Anadarko Petroleum Corporation, each of which consists of a prepaid equity purchase contract issued by Anadarko and a senior amortizing note issued by Anadarko. The net proceeds from the tangible equity units offering were approximately $387.1 million. Anadarko Petroleum Corporation intends to use the net proceeds from the offering for general corporate purposes.    

Headquartered in Woodlands, Texas, Anadarko Petroleum Corporation is among the world’s largest independent exploration and production companies, with approximately 2.9 billion barrels of oil equivalent of proved reserves at December 31, 2014. Anadarko’s asset portfolio includes U.S. onshore resource plays in the Rocky Mountains area, the southern United States, the Appalachian basin and Alaska.   

The Davis Polk equity derivatives team included partners Mark M. Mendez and Ray Ibrahim and associates Mark J. DiFiore and Zuo (Zoey) Yi. The tax team included partner Michael Farber and associate Isaac MacDonald. All members of the Davis Polk team are based in the New York office.  

 

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