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Halliburton To Issue $3.0 Billion Of Senior Notes

Halliburton (NYSE: HAL) announced today the pricing of an offering of $3.0 billion aggregate principal amount of senior notes. The notes are being issued in four tranches: $600 million of 3-year notes bearing interest at a fixed rate of 1.00% per year and maturing on August 1, 2016; $400 million of 5-year notes bearing interest at a fixed rate of 2.00% per year and maturing on August 1, 2018; $1.1 billion of 10-year notes bearing interest at a fixed rate of 3.50% per year and maturing on August 1, 2023; and $900 million of 30-year notes bearing interest at a fixed rate of 4.75% per year and maturing on August 1, 2043. The offering is expected to close on August 5, 2013.

Halliburton intends to use the net proceeds of the offering, together with cash on hand to the extent necessary, to fund Halliburton’s previously announced offer to repurchase up to $3.3 billion of shares of its common stock pursuant to a modified “dutch auction” cash tender offer, as well as related fees and expenses. To the extent that the aggregate purchase price of the shares purchased in the tender offer and related fees and expenses are less than the net proceeds of the offering, Halliburton intends to use the remaining net proceeds for general corporate purposes, including additional repurchases of common stock. Pending the application of the net proceeds to finance the tender offer or for general corporate purposes, as applicable, Halliburton may temporarily invest the net proceeds in cash equivalents or short-term investments.

The notes are being offered pursuant to an effective shelf registration statement on Form S-3 previously filed with the Securities and Exchange Commission. This press release does not constitute an offer to sell or a solicitation of an offer to buy the securities described herein, nor shall there be any sale of these securities in any state or jurisdiction in which such an offer, solicitation or sale would be unlawful prior to registration or qualification under the securities laws of any such jurisdiction. The offering may be made only by means of a prospectus and related prospectus supplement.

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