Halliburton to Redeem $2.5 Billion in Senior Notes

HOUSTON--(BUSINESS WIRE)--

Halliburton Company HAL announced today that, in connection with the previously announced termination of the merger agreement between Halliburton and Baker Hughes Incorporated BHI, it will redeem the entire outstanding principal amount of its 2.700% Senior Notes due March 2020 and 3.375% Senior Notes due March 2022 (the "Notes") pursuant to the special mandatory redemption procedures set forth in the indenture governing the terms of the Notes. The redemption date for the Notes is May 12, 2016. The aggregate principal amount of the Notes outstanding is $2.5 billion. The redemption price for each series of the Notes will consist of the sum of 101% of the principal amount of the Notes outstanding and any interest accrued and unpaid up to, but not including, the redemption date. Halliburton plans to use cash on hand to fund the special mandatory redemption.

Notices of redemption are being sent to all currently registered holders of the Notes by the Trustee, The Bank of New York Mellon Trust Company, N.A. For more information, holders of the Notes may call The Bank of New York Mellon at 1-800-254-2826.

This press release is not an offer to sell or a solicitation of an offer to buy any securities.

About Halliburton

Founded in 1919, Halliburton is one of the world's largest providers of products and services to the energy industry. With over 55,000 employees, representing 140 nationalities in over 80 countries, the company serves the upstream oil and gas industry throughout the lifecycle of the reservoir - from locating hydrocarbons and managing geological data, to drilling and formation evaluation, well construction and completion, and optimizing production through the life of the field. Visit the company's website at www.halliburton.com. Connect with Halliburton on Facebook, Twitter, LinkedIn, and YouTube.

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