New Issue: China National Petroleum prices $1.15 billion five-, 10-year notes

By Aleesia Forni

Columbus, Ohio, April 12 - China National Petroleum Corp. (A1/A+/A+) priced $1.15 billion of notes in two tranches on Thursday, according to a market source.

The $650 million of 2¾% five-year notes priced at 185 basis points over Treasuries. The notes priced at 99.991 to yield 2.752%.

Additionally, $500 million of 3.95% 10-year notes priced at Treasuries plus 190 bps, or 99.877 to yield 3.965%.

Citigroup and ICBC International were the bookrunners.

Issuer:	China National Petroleum Corp.
Issue:	Notes
Amount:	$1.15 billion
Bookrunners:	Citigroup, ICBC International
Trade date:	April 12
Settlement date:	April 19
Ratings:	Moody's: A1
	Standard & Poor's: A+
	Fitch: A+
Five-year notes
Amount:	$650 million
Maturity:	April 19, 2017
Coupon:	2¾%
Price:	99.991
Yield:	2.752%
Spread:	Treasuries plus 185 bps
10-year notes
Amount:	$500 million
Maturity:	April 19, 2022
Coupon:	3.95%
Price:	99.877
Yield:	3.965%
Spread:	Treasuries plus 190 bps

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