By Andrea Heisinger
New York, May 17 - EOG Resources Inc. priced $1 billion of senior unsecured notes (A3/A-/) on Monday split evenly between two tranches, an informed source said.
A $500 million tranche of 2.95% five-year notes sold at 99.795 to yield 2.994% with a spread of Treasuries plus 80 basis points. The tranche priced in line with talk in the 80 bps area.
The tranche is callable at a make-whole amount of Treasuries plus 15 bps.
A $500 million tranche of 4.4% 10-year notes priced at 99.734 to yield 4.433% with a spread of 95 bps over Treasuries. The notes also priced in line with guidance in the 95 bps area.
The 10-year notes have a make-whole call of Treasuries plus 20 bps.
Active bookrunners were Barclays Capital Inc., J.P. Morgan Securities Inc. and UBS Investment Bank, with Wells Fargo Securities as a passive bookrunner.
Co-managers were Citigroup Global Markets Inc., Bank of America Merrill Lynch, Mitsubishi UFJ Securities Inc., Deutsche Bank Securities Inc., Scotia Capital Inc., RBC Capital Markets Corp., SG Americas Securities LLC, BMO Capital Markets Corp., Comerica Securities, BNP Paribas Securities Corp., BBVA Securities Inc., Morgan Stanley & Co. Inc. and Goldman Sachs & Co. Inc.
Proceeds are being used for general corporate purposes, including repayment of outstanding commercial paper and borrowings under an uncommitted credit facility.
The oil and gas company is based in Houston.
| Issuer: | EOG Resources Inc.
|
| Issue: | Senior unsecured notes
|
| Amount: | $1 billion
|
| Bookrunners: | Barclays Capital Inc., J.P. Morgan Securities Inc., UBS Investment Bank (active), Wells Fargo Securities (passive)
|
| Co-managers: | Citigroup Global Markets Inc., Bank of America Merrill Lynch, Mitsubishi UFJ Securities Inc., Deutsche Bank Securities Inc., Scotia Capital Inc., RBC Capital Markets Corp., SG Americas Securities LLC, BMO Capital Markets Corp., Comerica Securities, BNP Paribas Securities Corp., BBVA Securities Inc., Morgan Stanley & Co. Inc., Goldman Sachs & Co. Inc.
|
| Trade date: | May 17
|
| Settlement date: | May 20
|
| Ratings: | Moody's: A3
|
| Standard & Poor's: A-
|
|
|
| Five-year notes
|
| Amount: | $500 million
|
| Maturity: | June 1, 2015
|
| Coupon: | 2.95%
|
| Price: | 99.795
|
| Yield: | 2.994%
|
| Spread: | Treasuries plus 80 bps
|
| Call: | Make-whole at Treasuries plus 15 bps
|
| Price talk: | 80 bps area
|
|
|
| 10-year notes
|
| Amount: | $500 million
|
| Maturity: | June 1, 2020
|
| Coupon: | 4.4%
|
| Price: | 99.734
|
| Yield: | 4.433%
|
| Spread: | Treasuries plus 95 bps
|
| Call: | Make-whole at Treasuries plus 20 bps
|
| Price talk: | 95 bps area
|
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