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FCX > SEC Filings for FCX > Form 8-K on 31-Mar-2014All Recent SEC Filings




Other Events

Item 8.01 Other Events.

Freeport-McMoRan Oil & Gas LLC (the "Successor Issuer") and FCX Oil & Gas Inc. (the "Co-Issuer" and together with the Successor Issuer, the "Subsidiaries"), wholly owned subsidiaries of Freeport-McMoRan Copper & Gold Inc. ("FCX"), will redeem on April 30, 2014 (the "Redemption Date") a total of 35% (or $210,000,000) of the aggregate principal amount of the Subsidiaries' outstanding 6.625% Senior Notes due 2021 ("Notes") at a redemption price of 106.625% of the principal amount thereof, plus accrued and unpaid interest on the Notes redeemed to, but not including, the Redemption Date. The aggregate Redemption Price will be funded with cash contributions from FCX to the Subsidiaries in exchange for additional equity in the Subsidiaries.

The Notes were issued under an Indenture (the "Original Indenture"), dated as of March 13, 2007, among Plains Exploration & Production Company ("PXP") and Wells Fargo Bank, N.A., as trustee (the "Trustee"), as supplemented by a Twelfth Supplemental Indenture (the "Twelfth Supplemental Indenture"), dated as of March 29, 2011, by and among PXP, the guarantors named therein and the Trustee (the Original Indenture, as supplemented by the Twelfth Supplemental Indenture, as further supplemented by an Eighteenth Supplemental Indenture dated as of May 31, 2013, by and among the Successor Issuer, the Co-Issuer, PXP, the guarantor named therein, and the Trustee, collectively, the "Indenture").

This redemption is made at the option of the Subsidiaries under Articles 2 and 11 of the Indenture and the Global Securities (as defined in the Indenture) establishing the terms of the Notes pursuant to the Indenture. Wells Fargo Bank, N.A., as trustee, distributed to the registered note holders written notice of the terms of the redemption on March 31, 2014.

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