Hess begins notes offering

Hess Corp.

Hess Corp. (NYSE:HES) has agreed to sell $300 million of three-year notes with a 1.30% coupon maturing on June 15, 2017, and $300 million of 10-year notes with a 3.50% coupon maturing on July 15, 2024, in a registered public offering.

Hess expects to use the net proceeds of the notes offering primarily to refinance the repayment of its $250 million 7.00% notes due 2014 and to retire various lease obligations, as well as for working capital and other general corporate purposes.

The offering is being led by JP Morgan Securities LLC, Morgan Stanley & Co. LLC, RBS Securities Inc., BNP Paribas Securities Corp., and Goldman, Sachs & Co.

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