By Cristal Cody
Tupelo, Miss., April 13 – Exxon Mobil Corp. priced $9.5 billion of notes (Aa1/AA) on Monday in five tranches, including three new issues and new reopenings, according to a market source.
A $2.75 billion tranche of 1.571% three-year notes priced at a spread of Treasuries plus 125 basis points.
Initial talk was in the Treasuries plus 155 bps area.
Exxon Mobil priced a $1.25 billion add-on to its 2.992% notes due March 19, 2025 at a spread of 140 bps over Treasuries.
The five-year notes were talked at the 165 bps spread area.
The company first sold $1.5 billion of the five-year notes on March 17 at par to yield a spread of 225 bps over Treasuries. The total outstanding is now $2.75 billion.
Exxon Mobil brought $2 billion of 2.61% new notes due Oct. 15, 2030 at a spread of 185 bps over Treasuries.
The long 10-year notes were talked at the 210 bps area.
The company priced a $750 million reopening of its 4.227% notes due March 19, 2040 at a 195 bps over Treasuries spread.
The 20-year tranche was talked at the Treasuries plus 220 bps area.
The 4.227% notes originally priced in the March 17 offering in a $1.25 billion tranche at par to yield a spread of Treasuries plus 250 bps. The total outstanding is now $2 billion.
Also, $2.75 billion of new 3.452% notes due April 15, 2051 priced at a spread of 205 bps over Treasuries.
Initial guidance was in the 220 bps spread area.
BofA Securities, Inc, Citigroup Global Markets Inc. and J.P. Morgan Securities LLC were the bookrunners.
Exxon Mobil is an energy company based in Irving, Tex.
| Issuer: | Exxon Mobil Corp.
|
| Amount: | $9.5 billion
|
| Securities: | Notes
|
| Bookrunners: | BofA Securities, Inc, Citigroup Global Markets Inc. and J.P. Morgan Securities LLC
|
| Trade date: | April 13
|
| Ratings: | Moody’s: Aa1
|
| S&P: AA
|
| Distribution: | SEC registered
|
|
|
| Three-year notes
|
| Amount: | $2.75 billion
|
| Maturity: | April 14, 2023
|
| Coupon: | 1.571%
|
| Spread: | Treasuries plus 125 bps
|
| Price guidance: | Treasuries plus 155 bps area
|
|
|
| Five-year notes
|
| Amount: | $1.25 billion reopening
|
| Maturity: | March 19, 2025
|
| Coupon: | 2.992%
|
| Spread: | Treasuries plus 140 bps
|
| Call features: | Make-whole call at Treasuries plus 35 bps until Feb. 19, 2025; thereafter at par
|
| Price guidance: | Treasuries plus 165 bps area
|
| Total outstanding: | $2.75 billion, including $1.5 billion of notes priced March 17 at par to yield a spread of 225 bps over Treasuries
|
|
|
| 10.5-year notes
|
| Amount: | $2 billion
|
| Maturity: | Oct. 15, 2030
|
| Coupon: | 2.61%
|
| Spread: | Treasuries plus 185 bps
|
| Price guidance: | Treasuries plus 210 bps area
|
|
|
| 20-year notes
|
| Amount: | $750 million reopening
|
| Securities: | Fixed-rate notes
|
| Maturity: | March 19, 2040
|
| Coupon: | 4.227%
|
| Spread: | Treasuries plus 195 bps
|
| Call features: | Make-whole call at Treasuries plus 40 bps until Sept. 19, 2039; thereafter at par
|
| Price guidance: | Treasuries plus 220 bps area
|
| Total outstanding: | $2 billion, including $1.25 billion of notes priced March 17 at par to yield a spread of Treasuries plus 250 bps
|
|
|
| 31-year notes
|
| Amount: | $2.75 billion
|
| Maturity: | April 15, 2051
|
| Coupon: | 3.452%
|
| Spread: | Treasuries plus 205 bps
|
| Price guidance: | Treasuries plus 230 bps area
|
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