By Cristal Cody
Tupelo, Miss., Feb. 20 – BP Capital Markets America Inc. provided additional details of its previously reported $1.25 billion sale of 3% notes due Feb. 24, 2050 (A1/A-) on Wednesday in an FWP filing with the Securities and Exchange Commission.
The notes priced at 98.344 to yield 3.085% and a spread of Treasuries plus 107 basis points.
Initial price talk was in the Treasuries plus 120 bps to 125 bps area.
Barclays, BofA Securities, Inc., Goldman Sachs & Co. LLC and Morgan Stanley & Co. LLC were the bookrunners.
The notes are guaranteed by parent company BP plc.
BP Capital Markets America is a Chicago-based aviation and marine fuels provider and subsidiary of the London-based oil and gas company.
| Issuer: | BP Capital Markets America Inc.
|
| Guarantor: | BP plc
|
| Amount: | $1.25 billion
|
| Description: | Notes
|
| Maturity: | Feb. 24, 2050
|
| Bookrunners: | Barclays, BofA Securities, Inc., Goldman Sachs & Co. LLC and Morgan Stanley & Co. LLC
|
| Coupon: | 3%
|
| Price: | 98.344
|
| Yield: | 3.085%
|
| Spread: | Treasuries plus 107 bps
|
| Call features: | Make-whole call before Aug. 24, 2049 at price equal to greater of par and Treasuries plus 20 bps; thereafter at par
|
| Trade date: | Feb. 19
|
| Settlement date: | Feb. 24
|
| Ratings: | Moody’s: A1
|
| S&P: A-
|
| Distribution: | SEC registered
|
| Price guidance: | Treasuries plus 110 bps area, plus or minus 3 bps; initial talk at Treasuries plus 120 bps-125 bps area
|
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