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Devon Energy Reports Strong Early Tender Results for Senior Notes

BY MT Newswires | CORPORATE | 06/08/26 08:04 AM EDT

08:04 AM EDT, 06/08/2026 (MT Newswires) -- Devon Energy (DVN) reported Monday that between 66% and 98% of notes across seven bond series were tendered early.

Almost 98% of 5.90% senior notes due 2055 were tendered, with about $733.3 million of the $750 million of outstanding principal being tendered early, followed by 93% of 5.60% senior notes due 2034, the company said.

Aside from the early tender of nearly 66% of senior notes issued by Coterra Energy Operating, the remaining series were tendered early by no less than 85%, the company said.

Shares of Devon Energy (DVN) were up 2% pre-bell.

MT Newswires does not provide investment advice. Unauthorized reproduction is strictly prohibited.

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In general the bond market is volatile, and fixed income securities carry interest rate risk. (As interest rates rise, bond prices usually fall, and vice versa. This effect is usually more pronounced for longer-term securities.) Fixed income securities also carry inflation risk and credit and default risks for both issuers and counterparties. Unlike individual bonds, most bond funds do not have a maturity date, so avoiding losses caused by price volatility by holding them until maturity is not possible.

Lower-quality debt securities generally offer higher yields, but also involve greater risk of default or price changes due to potential changes in the credit quality of the issuer. Any fixed income security sold or redeemed prior to maturity may be subject to loss.

Before investing, consider the funds' investment objectives, risks, charges, and expenses. Contact Fidelity for a prospectus or, if available, a summary prospectus containing this information. Read it carefully.

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