By Rebecca Melvin
Concord, N.H., June 15 – BP Capital Markets America Inc. priced $2 billion of guaranteed notes in two tranches, including new notes due 2041 and an add-on to its notes due 2061, according to an FWP filed with the Securities and Exchange Commission.
The notes are guaranteed by parent company BP plc.
The $1.45 billion tranche of new 3.06% 20-year notes priced at par with a yield spread of Treasuries plus 95 basis points.
The $550 million add-on to the issuer’s 3.379% notes due Feb. 8, 2061 priced at 98.533 for a reoffer yield of 3.447%, or a spread of Treasuries plus 125 bps.
The issuer originally sold $1.25 billion of the 2061 notes on Feb. 8.
Both tranches have a make-whole call and a six-month par call. The 2041 notes have a Treasuries plus 15 bps make-whole call premium, and the 2061 notes have a Treasuries plus 25 bps make-whole call premium.
BofA Securities, Inc., Citigroup Global Markets Inc., Mizuho Securities USA Inc., Morgan Stanley & Co. LLC, SG Americas Securities LLC and Wells Fargo Securities LLC were the bookrunners.
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: | $2 billion
|
| Description: | Guaranteed notes
|
| Bookrunners: | BofA Securities, Inc., Citigroup Global Markets Inc., Mizuho Securities USA Inc., Morgan Stanley & Co. LLC, SG Americas Securities LLC and Wells Fargo Securities LLC
|
| Pricing date: | June 14
|
| Issue date: | June 17
|
|
|
| 2041 notes
|
| Amount: | $1.45 billion
|
| Maturity: | June 17, 2041
|
| Coupon: | 3.06%
|
| Price: | Par
|
| Yield: | 3.06%
|
| Spread: | Treasuries plus 95 bps
|
| Call: | Make-whole call at Treasuries plus 15 bps, and six-month par call
|
|
|
| 2061 notes
|
| Amount: | $550 million add-on
|
| Maturity: | Feb. 8, 2061
|
| Coupon: | 3.379%
|
| Price: | 98.553
|
| Yield: | 3.447%
|
| Spread: | Treasuries plus 125 bps
|
| Call: | Make-whole call at Treasuries plus 25 bps, and six-month par call
|
|
|
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