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Hess Corporation has agreed to sell $300 million of 3-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 led by J.P. Morgan Securities LLC, Morgan Stanley & Co. LLC, RBS Securities Inc., BNP Paribas Securities Corp. and Goldman, Sachs & Co.
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 retire various lease obligations, as well as for working capital and other general corporate purposes.