By Andrea Heisinger
New York, March 9 - Anadarko Petroleum Corp. sold $750 million of 6.2% 30-year senior unsecured notes on Tuesday to yield 155 basis points over Treasuries, a market source said.
The notes (Baa3/BBB-/BBB-) were priced at 99.273 to yield 6.254%.
There is a make-whole call of Treasuries plus 25 bps.
Goldman Sachs & Co. and UBS Investment Bank were active bookrunners, with Citigroup Global Markets Inc., Credit Suisse Securities, Deutsche Bank Securities Inc. and Morgan Stanley & Co. Inc. as passive bookrunners.
Co-managers were BNP Paribas Securities Corp., DnB NOR Markets Inc., J.P. Morgan Securities Inc., Mitsubishi UFJ Securities, RBS Securities Inc. and SG Americas Securities LLC.
Proceeds will be used to fund tender offers.
The oil and gas exploration and production company is based in the Woodlands, Texas.
| Issuer: | Anadarko Petroleum Corp.
|
| Issue: | Senior unsecured notes
|
| Amount: | $750 million
|
| Maturity: | March 15, 2040
|
| Bookrunners: | Goldman Sachs & Co., UBS Investment Bank (active), Citigroup Global Markets Inc., Credit Suisse Securities, Deutsche Bank Securities Inc., Morgan Stanley & Co. Inc. (passive)
|
| Co-managers: | BNP Paribas Securities Corp., DnB NOR Markets Inc., J.P. Morgan Securities Inc., Mitsubishi UFJ Securities, RBS Securities Inc., SG Americas Securities LLC
|
| Coupon: | 6.2%
|
| Price: | 99.273
|
| Yield: | 6.254%
|
| Spread: | Treasuries plus 155 bps
|
| Call: | Make-whole at Treasuries plus 25 bps
|
| Trade date: | March 9
|
| Settlement date: | March 16
|
| Ratings: | Moody's: Baa3
|
| Standard & Poor's: BBB-
|
| Fitch: BBB-
|
© 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.
