Chicago, June 16 – Lundin Energy AB sold $2 billion of notes (Baa3/BBB-/BBB-) in two parts on Wednesday, according to a market source.
The company sold $1 billion of 2% five-year bonds at Treasuries plus 115 basis points. The notes had been initially talked in the Treasuries plus 140 bps area.
Also, an equal-sized tranche of $1 billion of longer-dated 3.1% 10-year bonds priced with a Treasuries plus 155 bps spread. The notes came low to talk in the Treasuries plus 180 bps area.
BNP Paribas, Deutsche Bank, ING, SEB and Wells Fargo Securities were bookrunners for the Rule 144A and Regulation S offering.
Proceeds, according to Moody’s Investors Service, will be used to repay outstanding debt drawn under the company’s corporate facility.
Lundin Energy is an oil and gas company based in Stockholm.
| Issuer: | Lundin Energy AB
|
| Issue: | Notes
|
| Amount: | $2 billion
|
| Bookrunners: | BNP Paribas, Deutsche Bank, ING, SEB and Wells Fargo Securities
|
| Trade date: | June 16
|
| Ratings: | Moody’s: Baa3
|
| S&P: BBB-
|
| Fitch: BBB-
|
| Distribution: | Rule 144A and Regulation S
|
|
|
| 2026 notes
|
| Amount: | $1 billion
|
| Maturity: | July 15, 2026
|
| Coupon: | 2%
|
| Spread: | Treasuries plus 115 bps
|
| Price talk: | Treasuries plus 140 bps area
|
|
|
| 2031 notes
|
| Amount: | $1 billion
|
| Maturity: | July 15, 2031
|
| Coupon: | 3.1%
|
| Spread: | Treasuries plus 155 bps
|
| Price talk: | Treasuries plus 180 bps area
|
|
|
© 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.
