Apache Secures $1B Credit Facility

Apache Corporation has secured a credit facility worth $1 billion, Citybizlist reports. JPMorgan Chase Bank was administrative agent, while Citibank, Bank of America and Wells Fargo Bank were syndication agents for the offering.

The Delaware-based corporation will use the proceeds for general corporate purposes, including any non-hostile acquisitions, or to back up its commercial paper facilities. The amounts outstanding under the credit agreement are due Aug. 12, 2016.

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