National Oilwell pricing five-, 10-, 30-year senior notes Thursday

By Andrea Heisinger

New York, Nov. 15 - National Oilwell Varco, Inc. is in the market with an offering of senior notes (A2/A-/) in three maturities that is expected to price on Thursday, according to a filing with the Securities and Exchange Commission.

The offering includes notes due 2017, 2022 and 2042.

The five-year notes have initial guidance in the 107.5 bps area, plus or minus 2.5 bps, while the 10-year notes and 30-year bonds are both being talked in the 127.5 bps area, plus or minus 2.5 bps.

Barclays, J.P. Morgan Securities LLC and Wells Fargo Securities LLC are the bookrunners.

Assisting with the sale are DNB NOR Markets Inc., Lloyds Securities Inc. and Mitsubishi UFJ Securities (USA) Inc.

Proceeds will be used to fund $2.5 billion of the purchase price for Robbins & Myers and for general corporate purposes.

The maker of equipment and components for oil and natural gas drilling is based in Houston.

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