By Cristal Cody
Tupelo, Miss., Sept. 15 – BP Capital Markets plc provided additional details of its previously reported $3 billion four-part sale of guaranteed notes (A1/A-/A) on Thursday in an FWP filing with the Securities and Exchange Commission.
The company sold $500 million of 1.768% two-year notes at par to yield a spread of Treasuries plus 40 basis points.
BP Capital Markets priced $300 million of five-year floaters at par to yield Libor plus 65 bps.
The $700 million tranche of 2.52% five-year fixed-rate notes priced at par with a spread of Treasuries plus 73 bps.
BP Capital Markets also sold $1.5 billion of 3.279% 10-year notes at par to yield a Treasuries plus 108 bps spread.
Credit Suisse Securities (USA) LLC, Goldman Sachs & Co., HSBC Securities (USA) Inc., J.P. Morgan Securities LLC, Morgan Stanley & Co. LLC and UBS Securities LLC were the bookrunners.
The notes are guaranteed by parent company BP plc.
BP Capital Markets is a financing arm of the London-based oil and gas company.
| Issuer: | BP Capital Markets plc
|
| Guarantor: | BP plc
|
| Amount: | $3 billion
|
| Description: | Notes
|
| Bookrunners: | Credit Suisse Securities (USA) LLC, Goldman Sachs & Co., HSBC Securities (USA) Inc., J.P. Morgan Securities LLC, Morgan Stanley & Co. LLC and UBS Securities LLC
|
| Trade date: | Sept. 14
|
| Settlement date: | Sept. 19
|
| Ratings: | Moody’s: A1
|
| S&P: A-
|
| Fitch: A
|
| Distribution: | SEC registered
|
|
|
| Two-year notes
|
| Amount: | $500 million
|
| Maturity: | Sept. 19, 2019
|
| Coupon: | 1.768%
|
| Price: | Par
|
| Yield: | 1.768%
|
| Spread: | Treasuries plus 40 bps
|
| Call features: | Make-whole call at greater of par and Treasuries plus 10 bps
|
|
|
| Five-year floaters
|
| Amount: | $300 million
|
| Maturity: | Sept. 19, 2022
|
| Coupon: | Libor plus 65 bps
|
| Price: | Par
|
| Yield: | Libor plus 65 bps
|
| Call feature: | Non-callable
|
|
|
| Five-year notes
|
| Amount: | $700 million
|
| Maturity: | Sept. 19, 2022
|
| Coupon: | 2.52%
|
| Price: | Par
|
| Yield: | 2.52%
|
| Spread: | Treasuries plus 73 bps
|
| Call features: | Make-whole call at greater of par and Treasuries plus 12.5 bps before Aug. 19, 2022; thereafter at par
|
|
|
| Ten-year notes
|
| Amount: | $1.5 billion
|
| Maturity: | Sept. 19, 2027
|
| Coupon: | 3.279%
|
| Price: | Par
|
| Yield: | 3.279%
|
| Spread: | Treasuries plus 108 bps
|
| Call features: | Make-whole call at greater of par and Treasuries plus 20 bps before June 19, 2027; thereafter at par
|
|
|
|
|
|
|
© 2015 Prospect News.
All content on this website is protected by copyright law in the U.S. and elsewhere.
For the use of the person downloading only.
Redistribution and copying are prohibited by law without written permission in advance from Prospect News.
Redistribution or copying includes e-mailing, printing multiple copies or any other form of reproduction.
