Published on 5/21/2019 in the Prospect News Investment Grade Daily.
New Issue: BP Capital prices $1 billion 18-month floaters at Libor plus 25 bps
By Cristal Cody
Tupelo, Miss., May 21 – BP Capital Markets plc priced $1 billion of floating-rate notes due Nov. 24, 2020 (A1/A-) on Tuesday at Libor plus 25 basis points, according to a market source.
BofA Securities, Inc. and Credit Suisse Securities (USA) LLC were the bookrunners.
BP Capital Markets is a financing arm of London-based oil and gas company BP plc.
| Issuer: | BP Capital Markets plc
|
| Amount: | $1 billion
|
| Maturity: | Nov. 24, 2020
|
| Description: | Floating-rate notes
|
| Bookrunners: | BofA Securities, Inc. and Credit Suisse Securities (USA) LLC
|
| Coupon: | Libor plus 25 bps
|
| Pricing date: | May 21
|
| Ratings: | Moody’s: A1
|
| S&P: A-
|
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