New Issue: BP Capital Markets prices $1.5 billion of 2.939% notes due 2051 at 125 bps spread

By Cristal Cody

Tupelo, Miss., Dec. 1 – BP Capital Markets America Inc. sold $1.5 billion of 2.939% notes due June 4, 2051 (A1/A-) on Tuesday at a spread of Treasuries plus 125 basis points, according to a market source.

Initial price talk was in the Treasuries plus 145 bps area.

BofA Securities, Inc., Barclays, Goldman Sachs & Co. LLC, J.P. Morgan Securities LLC, Santander Investment Securities Inc. and Standard Chartered Bank were the bookrunners.

BP Capital Markets America is a Chicago-based aviation and marine fuels provider and subsidiary of London-based oil and gas company BP plc, which guarantees the notes.

Issuer:	BP Capital Markets America Inc.
Guarantor:	BP plc
Amount:	$1.5 billion
Description:	Notes
Maturity:	June 4, 2051
Bookrunners:	BofA Securities, Inc., Barclays, Goldman Sachs & Co. LLC, J.P. Morgan Securities LLC, Santander Investment Securities Inc. and Standard Chartered Bank
Coupon:	2.939%
Spread:	Treasuries plus 125 bps
Trade date:	Dec. 1
Ratings:	Moody’s: A1
	S&P: A-
Price guidance:	Treasuries plus 145 bps area

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