By Reshmi Basu
New York, May 19 - Qatar Petroleum sold a debut offering of $650 million in five-year fixed-rate bonds (A1/A+) at par to yield 5.579%, or 65 basis points over Treasuries, according to a market source.
The bonds will carry a three-year average life.
Proceeds will be used for general capital purposes.
Citigroup and Credit Suisse were joint lead managers for the Rule 144A and Regulation S deal.
Qatar Petroleum is a national company responsible for oil and gas industry processes in Qatar and abroad.
| Issuer: | Qatar Petroleum
|
| Amount: | $650 million
|
| Issue: | Fixed-rate bonds
|
| Maturity: | May 30, 2011
|
| Coupon: | 5.579%
|
| Issue price: | Par
|
| Yield: | 5.579%
|
| Spread: | 65 basis points over Treasuries
|
| Pricing date: | May 19
|
| Settlement date: | May 26
|
| Lead managers: | Citigroup, Credit Suisse
|
| Ratings: | Moody's: A1
|
| Standard & Poor's: A+
|
| Distribution: | Rule 144A and Regulation S
|
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