By Andrea Heisinger
New York, July 29 - Halliburton Co. was in Monday's market with a $3 billion sale of senior notes (A2/A/A-) in four tranches, an informed source said.
A $600 million tranche of three-year notes priced at a spread of Treasuries plus 43 basis points. Initial talk was in the 45 bps area.
The second part was $400 million of five-year notes sold at a spread of 63 bps over Treasuries. Guidance was initially in the 65 bps area.
There was also $1.1 billion of 10-year notes priced at a spread of Treasuries plus 93 bps. Talk was initially in the 95 bps to 100 bps range.
Finally, there was a tranche of $900 million 30-year bonds sold at a spread of 110 bps over Treasuries. Initial guidance was in the 112.5 bps area.
Full terms were not available at press time.
Citigroup Global Markets Inc., Deutsche Bank Securities Inc., HSBC Securities (USA) Inc. and RBS Securities Inc. were the bookrunners.
Proceeds, along with cash on hand, will be used to fund the repurchase of common stock in a tender offer, along with related fees and expenses.
Halliburton, a Houston-based diversified energy services company, was last in the U.S. bond market with a $1 billion offering of senior notes in two parts on Nov. 8, 2011. That trade included a 3.25% 10-year note sold at 120 bps over Treasuries and a 4.5% 30-year bond priced at Treasuries plus 140 bps.
| Issuer: | Halliburton Co.
|
| Issue: | Senior notes
|
| Amount: | $3 billion
|
| Bookrunners: | Citigroup Global Markets Inc., Deutsche Bank Securities Inc., HSBC Securities (USA) Inc., RBS Securities Inc.
|
| Trade date: | July 29
|
| Ratings: | Moody's: A2
|
| Standard & Poor's: A
|
| Fitch: A-
|
|
|
| Three-year notes
|
| Amount: | $600 million
|
| Maturity: | 2016
|
| Spread: | Treasuries plus 43 bps
|
| Price talk: | 45 bps area
|
|
|
| Five-year notes
|
| Amount: | $400 million
|
| Maturity: | 2018
|
| Spread: | Treasuries plus 63 bps
|
| Price talk: | 65 bps area
|
|
|
| 10-year notes
|
| Amount: | $1.1 billion
|
| Maturity: | 2023
|
| Spread: | Treasuries plus 93 bps
|
| Price talk: | 95 bps to 100 bps
|
|
|
| 30-year bonds
|
| Amount: | $900 million
|
| Maturity: | 2043
|
| Spread: | Treasuries plus 110 bps
|
| Price talk: | 112.5 bps area
|
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