By Aleesia Forni
Virginia Beach, May 6 – Shell International Finance BV sold $10 billion of senior notes (A1/AA/) in six tranches on Wednesday, according to a FWP filing with the Securities and Exchange Commission.
The company sold $2 billion of 2.125% notes due 2020 at 99.788 to yield 2.17%, or Treasuries plus 60 basis points.
There was also $750 million of floaters due 2020 priced at par to yield Libor plus 45 bps.
A $2.75 billion 3.25% note due 2025 sold at 99.695 to yield 3.286%, or Treasuries plus 105 bps. The company also priced a $1.5 billion 4.125% note due 2035 at Treasuries plus 120 bps.
Pricing was at 99.166 to yield 4.187%.
Lastly, a $3 billion 4.375% note due 2045 sold at 99.801 to yield 4.387%, or Treasuries plus 140 bps.
A planned seven-year tranche of notes was dropped following the deal’s announcement.
Barclays, HSBC Securities (USA) Inc. and Morgan Stanley & Co. LLC are the joint bookrunners.
The Hague, the Netherlands-based oil and gas company plans to use proceeds for general corporate purposes.
The notes will be guaranteed by Royal Dutch Shell plc.
| Issuer: | Shell International Finance BV
|
| Guarantor: | Royal Dutch Shell plc
|
| Issue: | Senior notes
|
| Amount: | $10 billion
|
| Bookrunners: | Barclays, HSBC Securities (USA) Inc., Morgan Stanley & Co. LLC
|
| Trade date: | May 6
|
| Settlement date: | May 11
|
| Ratings: | Moody’s: A1
|
| Standard & Poor’s: AA
|
| Distribution: | SEC-registered
|
|
|
| Five-year notes
|
| Amount: | $2 billion
|
| Maturity: | May 11, 2020
|
| Coupon: | 2.125%
|
| Price: | 99.788
|
| Yield: | 2.17%
|
| Spread: | 60 bps
|
| Price guidance: | 75 bps area
|
| Make-whole call: | 10 bps
|
|
|
| Five-year floaters
|
| Amount: | $750 million
|
| Maturity: | May 11, 2020
|
| Coupon: | Libor plus 45 bps
|
| Price: | Par
|
| Yield: | Libor plus 45 bps
|
| Price guidance: | Libor equivalent
|
|
|
| 10-year notes
|
| Amount: | $2.75 billion
|
| Maturity: | May 11, 2025
|
| Coupon: | 3.25%
|
| Price: | 99.695
|
| Yield: | 3.286%
|
| Spread: | 105 bps
|
| Price guidance: | 110 bps to 115 bps
|
| Make-whole call: | 20 bps
|
|
|
| 20-year bonds
|
| Amount: | $1.5 billion
|
| Maturity: | May 11, 2035
|
| Coupon: | 4.125%
|
| Price: | 99.166
|
| Yield: | 4.187%
|
| Spread: | 120 bps
|
| Price guidance: | 125 bps to 130 bps
|
| Make-whole call: | 20 bps
|
|
|
| 30-year bonds
|
| Amount: | $3 billion
|
| Maturity: | May 11, 2045
|
| Coupon: | 4.375%
|
| Price: | 99.801
|
| Yield: | 4.387%
|
| Spread: | 140 bps
|
| Price guidance: | 145 bps to 150 bps
|
| Make-whole call: | 25 bps
|
|
|
|
|
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