By Cristal Cody
Eureka Springs, Ark., Nov. 22 – BP Capital Markets plc raised $2 billion in a previously announced offering of guaranteed notes (A2/A-) in two tranches on Monday, according to an FWP filing with the Securities and Exchange Commission.
The company sold $1.2 billion of 3.216% seven-year notes at par to yield a spread of Treasuries plus 110 basis points.
BP Capital priced $800 million of 3.723% 12-year notes at par, or 140 bps over Treasuries.
The notes priced on the tight side of guidance.
BNP Paribas Securities Corp., Citigroup Global Markets Inc., Credit Suisse Securities (USA) LLC, Goldman Sachs & Co., BofA Merrill Lynch and MUFG were the bookrunners.
The notes are guaranteed by parent company BP plc.
BP Capital Markets is a financing arm of the London-based oil and gas company.
| Issuer: | BP Capital Markets plc
|
| Guarantor: | BP plc
|
| Amount: | $2 billion
|
| Description: | Guaranteed notes
|
| Bookrunners: | BNP Paribas Securities Corp., Citigroup Global Markets Inc., Credit Suisse Securities (USA) LLC, Goldman Sachs & Co., BofA Merrill Lynch, MUFG
|
| Trade date: | Nov. 21
|
| Settlement date: | Nov. 28
|
| Ratings: | Moody’s: A2
|
| S&P: A-
|
| Distribution: | SEC registered
|
|
|
| Seven-year notes
|
| Amount: | $1.2 billion
|
| Maturity: | Nov. 28, 2023
|
| Coupon: | 3.216%
|
| Price: | Par
|
| Yield: | 3.216%
|
| Spread: | Treasuries plus 110 bps
|
| Price guidance: | Treasuries plus 115 bps area, plus or minus 5 bps
|
| Call features: | Make-whole call before Sept. 28, 2023 at price equal to greater of par and Treasuries plus 20 bps; on or after Sept. 28, 2023 at par
|
|
|
| 12-year notes
|
| Amount: | $800 million
|
| Maturity: | Nov. 28, 2028
|
| Coupon: | 3.723%
|
| Price: | Par
|
| Yield: | 3.723
|
| Spread: | Treasuries plus 140 bps
|
| Price guidance: | Treasuries plus 145 bps area, plus or minus 5 bps
|
| Call features: | Make-whole call before Aug. 28, 2028 at price equal to greater of par and Treasuries plus 25 bps; on or after Aug. 28, 2028 at par
|
© 2015 Prospect News.
All content on this website is protected by copyright law in the U.S. and elsewhere.
For the use of the person downloading only.
Redistribution and copying are prohibited by law without written permission in advance from Prospect News.
Redistribution or copying includes e-mailing, printing multiple copies or any other form of reproduction.
