By Andrea Heisinger
Omaha, Sept. 5 - EOG Resources Inc. priced $600 million of 5.875% 10-year senior notes Wednesday to yield Treasuries plus 140 basis points.
The notes (A3/A-) have a price of 99.931 with a yield of 5.884%. They came in at the tight end of price talk, which was 140 to 143 bps, a market source said.
Bookrunners were Citigroup Global Markets Inc., J.P. Morgan Securities Inc. and Lehman Brothers Inc.
Proceeds will be used for general corporate purposes, including repaying outstanding commercial paper and borrowing under other uncommitted credit facilities.
EOG is based in Houston and is the largest independent non-integrated oil and natural gas company in the United States.
| Issuer: | EOG Resources, Inc.
|
| Amount: | $600 million
|
| Maturity: | Sept. 15, 2017
|
| Security description: | Senior notes
|
| Bookrunners: | Citigroup Global Markets Inc., J.P. Morgan Securities Inc., Lehman Brothers Inc.
|
| Coupon: | 5.875%
|
| Price: | 99.931
|
| Yield: | 5.884%
|
| Spread: | Treasuries plus 140 bps
|
| Call: | Make-whole at Treasuries plus 25 bps
|
| Trade date: | Sept. 5
|
| Settlement date: | Sept. 10
|
| Ratings: | Moody's: A3
|
| Standard & Poor's: A-
|
| Price talk: | Treasuries plus 140 to 143 bps
|
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