-----BEGIN PRIVACY-ENHANCED MESSAGE----- Proc-Type: 2001,MIC-CLEAR Originator-Name: webmaster@www.sec.gov Originator-Key-Asymmetric: MFgwCgYEVQgBAQICAf8DSgAwRwJAW2sNKK9AVtBzYZmr6aGjlWyK3XmZv3dTINen TWSM7vrzLADbmYQaionwg5sDW3P6oaM5D3tdezXMm7z1T+B+twIDAQAB MIC-Info: RSA-MD5,RSA, Cwd1CAiLJem6PRshsNsNi6cGTVIp0i4YESPqz5U31jIQ0S8E8CqA+p/i0xuMeS+v ct7XGRvfFN2Ag8qyz2JSOA== 0000716039-97-000029.txt : 19970604 0000716039-97-000029.hdr.sgml : 19970604 ACCESSION NUMBER: 0000716039-97-000029 CONFORMED SUBMISSION TYPE: 8-K PUBLIC DOCUMENT COUNT: 1 CONFORMED PERIOD OF REPORT: 19970530 ITEM INFORMATION: Other events FILED AS OF DATE: 19970603 SROS: CSX SROS: NYSE SROS: PSE FILER: COMPANY DATA: COMPANY CONFORMED NAME: UNOCAL CORP CENTRAL INDEX KEY: 0000716039 STANDARD INDUSTRIAL CLASSIFICATION: PETROLEUM REFINING [2911] IRS NUMBER: 953825062 STATE OF INCORPORATION: DE FISCAL YEAR END: 1231 FILING VALUES: FORM TYPE: 8-K SEC ACT: 1934 Act SEC FILE NUMBER: 001-08483 FILM NUMBER: 97618582 BUSINESS ADDRESS: STREET 1: 2141 ROSECRANS AVE STREET 2: SUITE 4000 CITY: EL SEGUNDO STATE: CA ZIP: 90245 BUSINESS PHONE: 3107267600 8-K 1 NEWS RELEASE - TENDER OFFER - DEBT SECURITIES SECURITIES AND EXCHANGE COMMISSION Washington, DC. 20549 FORM 8-K Current Report Pursuant to Section 13 or 15(d) of the Securities Exchange Act of 1934 Date of report (Date of earliest event reported) May 30, 1997 -------------- UNOCAL CORPORATION - -------------------------------------------------------------------------------- (Exact name of registrant as specified in its charter) Delaware - -------------------------------------------------------------------------------- (State or Other Jurisdiction of Incorporation) 1-8483 95-3825062 - -------------------------------------------------------------------------------- (Commission File Number) (I.R.S. Employer Identification No.) 2141 Rosecrans Avenue, Suite 4000, El Segundo, California 90245 - -------------------------------------------------------------------------------- (Address of Principal Executive Offices) (Zip Code) (310) 726-7600 - -------------------------------------------------------------------------------- (Registrant's Telephone Number, Including Area Code) ITEM 5. OTHER EVENTS. On May 30, 1997 the following news release was issued: UNOCAL UNIT COMPLETES TENDER OFFER; PURCHASES $507 MILLION OF DEBT SECURITIES ----------------------------------------- El Segundo, Calif., May 30, 1997 -- Unocal Corporation today announced the purchase by its Union Oil Company of California subsidiary of approximately $507 million in aggregate principal amount, or over 72 percent, of three of its outstanding issues of debt securities. The $507 million in principal carried a weighted interest coupon of 9.27 percent, which yields an annual savings of approximately $47 million. The purchases were made pursuant to Union Oil's previously announced tender offer to purchase up to $700 million of debt securities. The offer expired May 22. Together with other debt repayments, the purchases substantially completed the company's program to reduce outstanding debt by $800 million, and were made with proceeds from the March sale of Unocal's West Coast refining, marketing and transportation assets. The debt securities were purchased for an aggregate price of approximately $555 million, including a pre-tax premium of approximately $48 million over their aggregate carrying value. The premium, together with related costs, will be recorded as an extraordinary charge to Unocal's second quarter earnings. Unocal Corporation is the world's largest independent exploration and production company with reserves of more than 9.8 trillion cubic feet of natural gas equivalent (1.6 billion barrels of oil equivalent) and major oil and gas production activities in Asia and the U.S. Gulf of Mexico. News releases and other company information are available at Unocal's website, http://www.unocal.com. 1 Pursuant to the requirements of the Securities Exchange Act of 1934, the registrant has duly caused this report to be signed on its behalf by the undersigned, thereunto duly authorized. UNOCAL CORPORATION (Registrant) Date: June 3, 1997 By: /s/ JOSEPH A. HOUSEHOLDER ----------------------------- Joseph A. Householder Vice President, Tax and Comptroller 2 -----END PRIVACY-ENHANCED MESSAGE-----