BP Capital talks benchmark four-part offering for Tuesday pricing

By Aleesia Forni

Virginia Beach, Feb. 10 – BP Capital Markets plc is expected to price a four-part offering of notes (A2/A/) on Tuesday, a market source said.

The sale will include two-year floating-rate notes guided in the 55 basis points area over Libor.

A tranche of three-year notes is guided in the Treasuries plus 85 bps area, and a three-year floater is talked at the Libor equivalent.

The sale also includes five-year fixed-rate notes guided in the 100 bps area over Treasuries.

The bookrunners are Credit Agricole, Goldman Sachs & Co., Mizuho Securities and RBS Securities Inc.

Proceeds from the offering will be used for general corporate purposes.

The unit of oil company BP plc is based in London.

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