SECURITIES AND EXCHANGE COMMISSION
Washington, D.C. 20549
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FORM 8-K
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Current Report
Pursuant to Section 13 or 15(d) of the
Securities Exchange Act of 1934
Date of Report (Date of earliest event reported): April 23, 1999
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ATLANTIC RICHFIELD COMPANY
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(Exact name of registrant as specified in its charter)
Delaware
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(State or other jurisdiction of incorporation)
1-1196 23-0371610
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(Commission File Number) (IRS Employer
Identification No.)
333 South Hope Street, Los Angeles, California 90071
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(Address of principal executive offices) (Zip Code)
Registrant's telephone number, including area code: (213) 486-3511
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Not Applicable
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(Former name or former address, if changed since last report)
<PAGE<
Item 5. Other Events.
Press Release, dated April 23, 1999, announcing the
closing of ARCO's $1 billion offering of senior debt securities.
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<PAGE>
SIGNATURE
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 hereunto duly authorized.
ATLANTIC RICHFIELD COMPANY
/s/ ALLAN L. COMSTOCK
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Allan L. Comstock
Vice President and Controller
Dated: April 23, 1999
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ARCO [logo] 333 South Hope Street N E W S
Los Angeles, CA 90071
Telephone (213) 486 3384
Facsimile (213) 486 0169
For Immediate Release April 23, 1999
ARCO DEBT SECURITIES SALE CLOSED
LOS ANGELES, April 23 -- ARCO (NYSE: ARC) today announced
its $1 billion offering of senior debt securities has closed.
The securities consisted of two $500 million tranches. The
four-year notes, due 2003, were priced with a coupon of
5.55% and at an issue price of 99.871%. The 10-year notes,
due 2009, were priced with a coupon of 5.90% and at an issue
price of 99.659%. Net proceeds from the offering will be
used for general corporate purposes and, principally, for
the replacement of short-term debt with long-term debt.
ARCO's long-term debt is rated "A2" by Moody's Investors
Services, Inc. and rated "A" by Standard & Poor's Ratings
Service. Both rating agencies placed ARCO ratings under
review for a possible upgrade following news that BP Amoco
and ARCO were in merger discussions.
Goldman, Sachs & Co. and Salomon Smith Barney were joint
book runners for the bond offering. The co-managers are
Chase Securities Inc., Credit Suisse First Boston, J.P.
Morgan & Co., NationsBanc Montgomery Securities LLC. and
Warburg Dillon Read LLC.
ARCO is a worldwide integrated hydrocarbons corporation with
operations encompassing all aspects of the oil and gas
business: exploration, production, refining, and marketing
of crude oil, natural gas and natural gas liquids. ARCO has
significant operations on the North Slope of Alaska and in
the Western United States, Gulf of Mexico, China, Indonesia,
and the North Sea.
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For further information: Media: Linda Dozier or Marylou
Flynn (213)486-3384; Investors: Eden Warner (213)486-1511 or
David De Sonier (213)486-1811. For a complete file of news
releases, visit http://www.arco.com.
