Exhibit 4.2

 

OCCIDENTAL PETROLEUM CORPORATION

 

Officers’ Certificate

 

Pursuant to Section 201 and Section 301 of the Indenture, dated as of August 18, 2011 (the “Indenture”), between Occidental Petroleum Corporation, a Delaware corporation (the “Company”), and The Bank of New York Mellon Trust Company, N.A., as trustee (the “Trustee”), the terms of the following two series of Securities to be issued pursuant to the Indenture are as follows:

 

1.             Authorization.  The establishment of two new series of Securities of the Company has been approved and authorized in accordance with the provisions of the Indenture pursuant to resolutions adopted by the Board of Directors of the Company on July 15, 2010.

 

2.             Compliance with Covenants and Conditions Precedent.  All covenants and conditions precedent provided for in the Indenture relating to the establishment of such series of Securities have been complied with.

 

3.             Terms.  The terms of the series of Securities established pursuant to this Officers’ Certificate shall be as follows:

 

(i)            Title.  The titles of the series of Securities are as follows:

 

(1)           the “1.50% Senior Notes due 2018” (the “2018 Notes”); and

 

(2)           the “2.70% Senior Notes due 2023” (the “2023 Notes” and, together with the 2018 Notes, the “Notes”).

 

(ii)           Initial Aggregate Principal Amount.  The initial aggregate principal amount of Notes of each series which may be authenticated and delivered pursuant to the Indenture (except for Notes of such series authenticated and delivered upon registration of transfer of, or in exchange for, or in lieu of, other Notes of such series pursuant to Sections 304, 305, 306, 906 and 1107 of the Indenture) is as follows:

 

(1)           in the case of the 2018 Notes, $500,000,000; and

 

(2)           in the case of the 2023 Notes, $1,250,000,000.

 

(iii)          Registered Securities in Book-Entry Form.  The Notes of each series shall be issued in the form of Registered Securities without coupons.  The Notes of each series will be issued in book-entry form (“Book-Entry Notes”) and represented by one or more definitive global Notes (the “Global Notes”).  The initial Depositary with respect to the Global Notes will be The Depository Trust Company.  Book-Entry Notes of any series will not be exchangeable for Notes of such series in definitive form (“Definitive Notes”) except as provided in Section 305 of the Indenture.

 











 

(iv)          Persons to Whom Interest Payable.  Interest payable on any Interest Payment Date (as defined below) with respect to a Note of any series will be paid to the Person in whose name such Note (or one or more Predecessor Securities) is registered at the close of business on the Regular Record Date for the Notes of such series (whether or not a Business Day) with respect to such Interest Payment Date.

 

(v)           Stated Maturity.  The principal amount of the Notes of each series will be payable on the respective dates set forth below, subject to earlier redemption as set forth in paragraph (viii) below:

 

(1)           in the case of the 2018 Notes, February 15, 2018; and

 

(2)           in the case of the 2023 Notes, February 15, 2023.

 

(vi)          Rate of Interest; Interest Payment Dates; Regular Record Dates; Accrual of Interest.

 

(1)           The 2018 Notes will bear interest at the rate of 1.50% per annum.  Interest on the 2018 Notes will be payable semi-annually in arrears on February 15 and August 15 of each year (each, a “2018 Interest Payment Date”), commencing on February 15, 2013.  The Regular Record Date for the 2018 Notes shall be the February 1 or August 1 (whether or not a Business Day), as the case may be, immediately preceding the applicable 2018 Interest Payment Date.

 

(2)           The 2023 Notes will bear interest at the rate of 2.70% per annum.  Interest on the 2023 Notes will be payable semi-annually in arrears on February 15 and August 15 of each year (each, a “2023 Interest Payment Date” and, together with each 2018 Interest Payment Date, an “Interest Payment Date”), commencing on February 15, 2013.  The Regular Record Date for the 2023 Notes shall be the February 1 or August 1 (whether or not a Business Day), as the case may be, immediately preceding the applicable 2023 Interest Payment Date.

 

The Notes of each series will bear interest from and including June 22, 2012 or from and including the most recent Interest Payment Date to or for which interest has been paid or duly provided until the principal thereof is paid or made available for payment.  Interest payments on the Notes of each series shall be the amount of interest accrued from and including the most recent Interest Payment Date for such series for which interest has been paid or duly provided (or from and including June 22, 2012 if no interest has been paid or duly provided with respect to the Notes of such series), to but excluding the next succeeding Interest Payment Date for such series (or other day on which such payment of interest on the Notes of such series is due).  Interest on the Notes of each series will be calculated on the basis of a 360-day year comprised of twelve 30-day months.

 

(vii)         Place of Payment; Registration of Transfer and Exchange; Notices to Company.  Payment of the principal of and interest on the Notes of each series will be made at the Corporate Trust Office of the Trustee in the Borough of

 

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Manhattan, The City of New York, or at the office or agency of the Trustee maintained for that purpose in the Borough of Manhattan, The City of New York, or at any other office or agency designated by the Company for such purpose; provided that, at the option of the Company, payment of interest due on any Interest Payment Date may be made by check mailed to the address of the Person entitled thereto as such address shall appear in the Security Register or by wire transfer of immediately available funds if appropriate wire transfer instructions have been received in writing by the Trustee not less than 15 days prior to the applicable Interest Payment Date.  The Notes of each series may be presented for exchange and registration of transfer at the Corporate Trust Office of the Trustee in the Borough of Manhattan, The City of New York, or at the office or agency of the Trustee maintained for that purpose in the Borough of Manhattan, The City of New York or at the office of any transfer agent hereafter designated by the Company for such purpose.  Notices and demands to or upon the Company in respect of the Notes of any series and the Indenture may be mailed by regular mail, sent by overnight courier, delivered, e-mailed or faxed to Occidental Petroleum Corporation, 10889 Wilshire Boulevard, Los Angeles, California 90024, Attention: Treasurer, Fax No.: 212-265-2037, e-mail: Notice_to_Treasurer@Oxy.com with a copy to the General Counsel, Fax No.: 310-443-6195, e-mail: Notice_to_GC@Oxy.com and the Chief Financial Officer, Fax No. 310-443-6686, e-mail: Notice_to_CFO@Oxy.com, or, in each case, at any other address, fax number or e-mail address previously furnished by the Company by notice to the Trustee for itself and for the benefit of the Holders.

 

(viii)        Redemption.  The Notes of each series are not entitled to any mandatory redemption or sinking fund payments.  However, the Notes of each series are redeemable, in whole at any time or in part from time to time, at the option of the Company on the terms and subject to the conditions set forth in the form of certificate evidencing the Notes of such series attached hereto as Exhibit A, in the case of the 2018 Notes, and Exhibit B, in the case of the 2023 Notes, and in the Indenture.

 

(ix)           Denominations.  The Notes of each series are issuable in denominations of $2,000 and integral multiples of $1,000 in excess thereof.

 

(x)            Security Register; Paying Agent.  The Security Register for the Notes of each series will be initially maintained at the Corporate Trust Office of the Trustee in the Borough of Manhattan, The City of New York or at the office of any transfer agent hereafter designated by the Company for such purpose.  The Company hereby appoints the Trustee as the initial Securities Registrar, transfer agent and Paying Agent for the Notes of each series.

 

(xi)           Further Issues.  The Company may, from time to time, without notice to or the consent of the Holders of the Notes of any series, reopen the Notes of such series and issue additional Notes of such series.

 

(xii)          Form.  The certificates evidencing the Notes of each series will be in substantially the form set forth in Exhibit A, in the case of the 2018 Notes, and Exhibit B, in the case of the 2023 Notes, each attached hereto; provided, that if Definitive Notes of any series are issued in exchange for interests in Global Notes of such series, then the

 

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legend appearing on the first page and the “Schedule of Exchanges of Interests in the Global Note” appearing on the last page (and all references thereto) of the certificate evidencing the Notes of such series attached hereto as Exhibit A, in the case of the 2018 Notes, and Exhibit B, in the case of the 2023 Notes, shall be removed from the Definitive Notes of such series.  The Notes of each series shall have such other terms and provisions as are set forth in the form of certificate evidencing the Notes of such series attached hereto as Exhibit A, in the case of the 2018 Notes, and Exhibit B, in the case of the 2023 Notes, all of which terms and provisions are incorporated by reference in and made a part of this Officers’ Certificate as if set forth in full herein.

 

Terms (whether or not capitalized) that are defined in the Indenture and not otherwise defined herein have the meanings specified in the Indenture.

 

Each of the undersigned, for himself or herself, states, as an officer of the Company, not in his or her individual capacity, that he or she has read and is familiar with the provisions of Article Two of the Indenture relating to the establishment of the form of certificate representing a series of Securities thereunder and Article Three of the Indenture relating to the establishment of a series of Securities thereunder and, in each case, the definitions therein relating thereto; that the statements made in this certificate are based upon an examination of the Notes of each series, upon an examination of and familiarity with Articles Two and Three of the Indenture and such definitions, upon his or her general knowledge of and familiarity with the affairs of the Company and its acts and proceedings and upon the performance of his or her duties as an officer of the Company; that, in his or her opinion, he or she has made such examination or investigation as is necessary to enable him or her to express an informed opinion as to whether or not the covenants and conditions referred to above have been complied with; and that in his or her opinion, with respect to the foregoing, the covenants and conditions provided for in the Indenture relating to the establishment of the Notes of each series as a series of Securities under the Indenture have been complied with.

 

[signature page follows]

 

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IN WITNESS WHEREOF, the undersigned have hereunto signed this certificate on behalf of the Company as of this 22nd day of June, 2012.

 

 

	
 
    	
OCCIDENTAL   PETROLEUM CORPORATION
    
	
 
    	
 
    
	
 
    	
 
    
	
 
    	
By:
    	
/s/ Christopher G.   Stavros
    
	
 
    	
 
    	
Name:
    	
Christopher G.   Stavros
    
	
 
    	
 
    	
Title:
    	
Vice President and   Treasurer
    
	
 
    	
 
    	
 
    
	
 
    	
 
    	
 
    
	
 
    	
By:
    	
/s/ Linda S.   Peterson
    
	
 
    	
 
    	
Name:
    	
Linda S. Peterson
    
	
 
    	
 
    	
Title:
    	
Assistant   Secretary
    


 

Signature Page to Officers’ Certificate