• Devon launched private exchange offers for any and all outstanding Coterra notes following the merger, offering new Devon senior notes with matching coupons and maturities.
• Early tenders by June 5 can receive USD 1,000 principal amount of the applicable New Devon senior notes plus USD 1 cash per USD 1,000 tendered; later tenders by June 23 receive USD 970 principal amount of the new notes per USD 1,000.
• The transaction covers seven series with about USD 3.25 billion aggregate principal outstanding, spanning 3.9% senior notes due 2027 through 5.9% senior notes due 2055.
• Coterra is also seeking consents to strip covenants and certain default provisions from indentures for the parent-issued notes; the operating company notes are excluded from the consent process.

Disclaimer: This news brief was created by Public Technologies (PUBT) using generative artificial intelligence. While PUBT strives to provide accurate and timely information, this AI-generated content is for informational purposes only and should not be interpreted as financial, investment, or legal advice. Devon Energy Corporation published the original content used to generate this news brief via GlobeNewswire (Ref. ID: 202605220938PRIMZONEFULLFEED9725364) on May 22, 2026, and is solely responsible for the information contained therein.