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Chevron Corporation (NYSE: CVX) announced that the indenture trustee of the “Texaco Capital Inc. 7.5% Guaranteed Debentures Due 2043” with face value of $83.72 million has been notified that the bond will be redeemed on March 1, 2013, as per the terms of the Prospectus Supplement dated March 4, 1993. Chevron is the Guarantor of the debenture and is required to give 30-60 days notification to the indenture trustee prior to the redemption. The terms of the redemption are the face value plus a 2.717% premium and accrued interest.
Chevron stated the redemption is due to high associated coupon payments, and the transaction will be financed using existing cash.
Chevron is one of the world's leading integrated energy companies, with subsidiaries that conduct business worldwide. The company is involved in virtually every facet of the energy industry. Chevron explores for, produces and transports crude oil and natural gas; refines, markets and distributes transportation fuels and lubricants; manufactures and sells petrochemical products; generates power and produces geothermal energy; provides energy efficiency solutions; and develops the energy resources of the future, including biofuels. Chevron is based in San Ramon, California. More information about Chevron is available at