By Andrea Heisinger
New York, Sept. 25 - EOG Resources, Inc. priced $750 million of senior notes (A3/A-/) in two tranches Thursday, according to an FWP filing with the Securities and Exchange Commission.
The $400 million of 6.125% five-year notes priced at 99.961 to yield 6.134%, or Treasuries plus 310 basis points.
The $350 million of 6.875% 10-year notes priced at 99.465 to yield 6.95%, or Treasuries plus 310 bps.
Both tranches have make-whole redemption options of Treasuries plus 50 bps.
Price talk for each tranche was in the 312.5 bps area, of which they came in at the tight end.
Bookrunners were J.P. Morgan Securities Inc., Banc of America Securities LLC and Citigroup Global Markets Inc.
Co-managers were Deutsche Bank Securities Inc., Lazard Capital Markets and UBS Investment Bank.
Proceeds will be used for general corporate purposes, including repayment of outstanding commercial paper and borrowings under uncommitted credit facilities.
The oil and natural gas company is based in Houston.
| Issuer: | EOG Resources, Inc.
|
| Issue: | Senior notes
|
| Amount: | $750 million
|
| Bookrunners: | J.P. Morgan Securities Inc., Banc of America Securities LLC, Citigroup Global Markets Inc.
|
| Co-managers: | Deutsche Bank Securities Inc., Lazard Capital Markets, UBS Investment Bank
|
| Trade date: | Sept. 25
|
| Settlement date: | Sept. 30
|
| Ratings: | Moody's: A3
|
| Standard & Poor's: A-
|
|
|
| Five-year notes
|
| Amount: | $400 million
|
| Maturity: | Oct. 1, 2013
|
| Coupon: | 6.125%
|
| Price: | 99.961
|
| Yield: | 6.134%
|
| Spread: | Treasuries plus 310 bps
|
| Call: | Make-whole at Treasuries plus 50 bps
|
| Price talk: | 312.5 bps area
|
|
|
| 10-year notes
|
| Amount: | $350 million
|
| Maturity: | Oct. 1, 2018
|
| Coupon: | 6.875%
|
| Price: | 99.465
|
| Yield: | 6.950%
|
| Spread: | Treasuries plus 310 bps
|
| Call: | Make-whole at Treasuries plus 50 bps
|
| Price talk: | 312.5 bps area
|
© 2015 Prospect News.
All content on this website is protected by copyright law in the U.S. and elsewhere.
For the use of the person downloading only.
Redistribution and copying are prohibited by law without written permission in advance from Prospect News.
Redistribution or copying includes e-mailing, printing multiple copies or any other form of reproduction.
