04:19 PM EST, 12/10/2024 (MT Newswires) -- ConocoPhillips ( COP ) on Tuesday announced pricing terms for cash tender offers of its ConocoPhillips Company unit.

The offers involve acquiring all of Marathon Oil's debt securities and maximum offer notes totaling up to approximately $4.04 billion, based on priority levels and proration.

The total tender offer consideration was calculated using fixed spreads over US Treasury Security yields, the company said, adding that the validly tendered notes are expected to be settled on Thursday.

The company expects to accept around $2.67 billion in principal amount for "Any and All Notes," or all outstanding debt securities, and anticipates accepting "Maximum Offer Notes," or specific debt securities with acceptance priority Levels 1 to 7, totaling nearly $1.08 billion, while notes with priority levels 8 to 13 will not be accepted, the company said.