LOS ANGELES, Feb. 26, 2003 (PRIMEZONE) -- Occidental Petroleum Corporation (NYSE:OXY) today announced that it had priced $300 million of 7-year Medium-Term Senior Notes, Series C, with an interest rate of 4.25 percent. The proceeds from the offering will be temporarily invested and then used together with internally generated cash flow to repurchase the $450 million of 6.4 percent notes due 2013, subject to remarketing April 1, 2003.
This communication shall not constitute an offer to sell or the solicitation of an offer to buy any securities.
Copies of the written prospectus meeting the requirements of Section 10 of the Securities Act of 1933, as amended, may be obtained from Salomon Smith Barney Inc., 388 Greenwich Street, New York, New York 10013.
Statements in this presentation that contain words such as "will" or "expect", or otherwise related to the future, are forward-looking and involve risks and uncertainties that could significantly affect expected results. Factors that could cause results to differ materially include, but are not limited to: global commodity pricing fluctuations, and supply/demand consideration, for oil, gas and chemicals; higher-than-expected costs; and not successfully completing (or any material delay in) any expansion, capital expenditure, acquisition, or disposition. Occidental disclaims any obligation to update any forward-looking statements. -0-