Published on 3/18/2014 in the Prospect News Investment Grade Daily.
New Issue: EOG sells $500 million 2.45% six-year notes at 93 bps over Treasuries
By Aleesia Forni
Virginia Beach, March 18 - EOG Resources Inc. priced $500 million of 2.45% senior notes due 2020 with a spread of Treasuries plus 93 basis points, according to a syndicate source and a FWP filed with the Securities and Exchange Commission.
The notes (A3/A-/) priced at 99.844 to yield 2.478%.
Pricing was at the tight end of talk.
Barclays, J.P. Morgan Securities LLC and RBC Capital Markets LLC were the active bookrunners. Passive bookrunners were DNB Markets Inc., Goldman Sachs & Co., SG Americas Securities LLC and UBS Securities LLC.
Proceeds will be used for general corporate purposes, including the repayment of commercial paper and capital expenditures.
EOG is a Houston-based crude oil and natural gas company.
| Issuer: | EOG Resources Inc.
|
| Amount: | $500 million
|
| Description: | Senior notes
|
| Maturity: | April 1, 2020
|
| Bookrunners: | Barclays, J.P. Morgan Securities LLC, RBC Capital Markets LLC (active); DNB Markets Inc., Goldman Sachs & Co., SG Americas Securities LLC, UBS Securities LLC (passive)
|
| Co-managers: | Citigroup Global Markets Inc., Mitsubishi UFJ Securities (USA), Inc., U.S. Bancorp Investments, Inc., Wells Fargo Securities, LLC, BB&T Capital Markets, BBVA Securities Inc., BMO Capital Markets Corp., Comerica Securities, Inc., Credit Suisse Securities (USA) LLC, Deutsche Bank Securities Inc., Scotia Capital (USA) Inc., ANZ Securities, Inc., CIBC World Markets Corp.
|
| Coupon: | 2.45%
|
| Price: | 99.844
|
| Yield: | 2.478%
|
| Spread: | Treasuries plus 93 bps
|
| Price talk: | Treasuries plus 95 bps area, tightened from Treasuries plus 95 bps to 100 bps
|
| Make-whole call: | Treasuries plus 15 bps prior to March 1, 2020, then callable at par
|
| Trade date: | March 18
|
| Settlement date: | March 21
|
| Ratings: | Moody's: A3
|
| Standard & Poor's: A-
|
| Distribution: | SEC registered
|
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