By Cristal Cody
Tupelo, Miss., July 8 – Total Capital International priced a $4 billion four-part offering of guaranteed notes (Aa3/A+) on the firm side of deal guidance on Monday, according to a market source.
A $750 million tranche of 2.218% two-year notes priced with a spread of 33 basis points over Treasuries.
Total Capital sold $1 billion of 2.434% long five-year notes at a Treasuries plus 58 bps spread.
The company placed $1.25 million of 2.819% notes due Jan. 10., 2030 with a Treasuries plus 78 bps spread.
The final tranche of $1 billion of 3.461% 30-year notes priced at a 93 bps over Treasuries spread.
Barclays, Credit Agricole Securities (USA) Inc., J.P. Morgan Securities LLC, Mizuho Securities USA Inc. and Morgan Stanley & Co. LLC were the bookrunners.
The notes are unconditionally guaranteed by parent company Total SA.
Proceeds will be used for general corporate purposes.
Total Capital is a financing arm of the Courbevoie, France-based oil and gas company.
| Issuer: | Total Capital International
|
| Guarantor: | Total SA
|
| Amount: | $4 billion
|
| Description: | Notes
|
| Bookrunners: | Barclays, Credit Agricole Securities (USA) Inc., J.P. Morgan Securities LLC, Mizuho Securities USA Inc. and Morgan Stanley & Co. LLC
|
| Trade date: | July 8
|
| Ratings: | Moody’s: Aa3
|
| S&P: A+
|
| Distribution: | SEC registered
|
|
|
| Two-year notes
|
| Amount: | $750 million
|
| Maturity: | July 12, 2021
|
| Coupon: | 2.218%
|
| Spread: | Treasuries plus 33 bps
|
| Price guidance: | Treasuries plus 35 bps area, plus or minus 2 bps; initial talk at Treasuries plus 50 bps area
|
|
|
| Five-year notes
|
| Amount: | $1 billion
|
| Maturity: | Jan. 10, 2025
|
| Coupon: | 2.434%
|
| Spread: | Treasuries plus 58 bps
|
| Price guidance: | Treasuries plus 60 bps area, plus or minus 2 bps; initial talk at Treasuries plus 75 bps area
|
|
|
| Ten-year notes
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| Amount: | $1.25 billion
|
| Maturity: | Jan. 10, 2030
|
| Coupon: | 2.829%
|
| Spread: | Treasuries plus 78 bps
|
| Price guidance: | Treasuries plus 80 bps area, plus or minus 2 bps; initial talk at Treasuries plus 95 bps area
|
|
|
| Thirty-year notes
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| Amount: | $1 billion
|
| Maturity: | July 30, 2049
|
| Coupon: | 3.461%
|
| Spread: | Treasuries plus 93 bps
|
| Price guidance: | Treasuries plus 95 bps area, plus or minus 2 bps; initial talk at Treasuries plus 110 bps-115 bps area
|
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