By Cristal Cody
Tupelo, Miss., April 1 – Equinor ASA (Aa2/AA-/) priced $5 billion of guaranteed notes on Wednesday in five tranches, according to a market source and news release.
The company sold $1.25 billion of 2.875% five-year notes, a $500 million tranche of 3% seven-year notes, $1.5 billion of 3.125% 10-year notes, $500 million of 3.625% 20-year notes and $1.25 billion of 3.7% 30-year notes.
Initial price talk on the five-year notes was in the Treasuries plus 270 basis points area; the seven-year notes were talked at the 275 bps area; the 10-year notes were talked at the 280 bps area; the 20-year notes were talked at the 260 bps area; and the 30-year notes were talked at the 270 bps spread area.
Barclays, BofA Securities, Inc., Citigroup Global Markets Inc. and J.P. Morgan Securities LLC were the bookrunners.
The notes are guaranteed by subsidiary Equinor Energy AS.
Proceeds will be used for general corporate purposes, which may include debt repayment.
Equinor ASA is an oil, gas, wind and solar energy company based in Stavanger, Norway.
| Issuer: | Equinor ASA
|
| Guarantor: | Equinor Energy AS
|
| Amount: | $5 billion
|
| Description: | Senior notes
|
| Bookrunners: | Barclays, BofA Securities, Inc., Citigroup Global Markets Inc. and J.P. Morgan Securities LLC
|
| Trade date: | April 1
|
| Settlement date: | April 6
|
| Ratings: | Moody’s: Aa2
|
| S&P: AA-
|
| Distribution: | SEC registered
|
|
|
| Five-year notes
|
| Amount: | $1.25 billion
|
| Maturity: | April 6, 2025
|
| Coupon: | 2.875%
|
| Price guidance: | Treasuries plus 270 bps area
|
|
|
| Seven-year notes
|
| Amount: | $500 million
|
| Maturity: | April 6, 2027
|
| Coupon: | 3%
|
| Price guidance: | Treasuries plus 275 bps area
|
|
|
| 10-year notes
|
| Amount: | $1.5 billion
|
| Maturity: | April 6, 2030
|
| Coupon: | 3.125%
|
| Price guidance: | Treasuries plus 280 bps area
|
|
|
| 20-year notes
|
| Amount: | $500 million
|
| Maturity: | April 6, 2040
|
| Coupon: | 3.625%
|
| Price guidance: | Treasuries plus 260 bps area
|
|
|
| 30-year notes
|
| Amount: | $1.25 billion
|
| Maturity: | April 6, 2050
|
| Coupon: | 3.7%
|
| Price guidance: | Treasuries plus 270 bps area
|
|
|
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