By Devika Patel
Knoxville, Tenn., May 19 – Equinor ASA (Aa2/AA-) offered further details about a $1.5 billion sale of guaranteed notes that priced in two tranches on Monday, according to an FWP filed with the Securities and Exchange Commission.
A $750 million tranche of 1.75% notes due Jan. 22, 2026 priced at a spread of 145 basis points over Treasuries. These notes priced at 99.599 to yield 1.825%.
Initial price talk was in the Treasuries plus 175 bps area.
The company sold $750 million of 2.375% 10-year notes at a spread of Treasuries plus 170 bps. These notes priced at 99.426 to yield 2.44%.
The 10-year notes were talked at a 200 bps area spread.
Barclays, BNP Paribas Securities Corp., BofA Securities, Inc., DNB Markets, Inc., Goldman Sachs & Co. LLC 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.
Equinor ASA is an oil, gas, wind and solar energy company based in Stavanger, Norway.
| Issuer: | Equinor ASA
|
| Guarantor: | Equinor Energy AS
|
| Amount: | $1.5 billion
|
| Description: | Senior notes
|
| Bookrunners: | Barclays, BNP Paribas Securities Corp., BofA Securities, Inc., DNB Markets, Inc., Goldman Sachs & Co. LLC and J.P. Morgan Securities LLC
|
| Trade date: | May 18
|
| Settlement date: | May 22
|
| Ratings: | Moody’s: Aa2
|
| S&P: AA-
|
| Distribution: | SEC registered
|
|
|
| Notes due 2026
|
| Amount: | $750 million
|
| Maturity: | Jan. 22, 2026
|
| Coupon: | 1.75%
|
| Price: | 99.599
|
| Yield: | 1.825%
|
| Spread: | Treasuries plus 145 bps
|
| Call: | Make-whole call at Treasuries plus 25 bps until Dec. 22, 2025, then a par call
|
| Price guidance: | Treasuries plus 175 bps area
|
|
|
| Notes due 2030
|
| Amount: | $750 million
|
| Maturity: | May 22, 2030
|
| Coupon: | 2.375%
|
| Price: | 99.426
|
| Yield: | 2.44%
|
| Spread: | Treasuries plus 170 bps
|
| Call: | Make-whole call at Treasuries plus 30 bps until Feb. 22, 2030, then a par call
|
| Price guidance: | Treasuries plus 200 bps area
|
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