By Cristal Cody
Tupelo, Miss., Feb. 19 – BP Capital Markets America Inc. priced $1.25 billion of 3% 30-year notes (A1/A-) on Wednesday at a spread of Treasuries plus 107 basis points, according to an informed source.
Initial price talk was in the Treasuries plus 120 bps to 125 bps area.
BofA Securities, Inc., Barclays, Goldman Sachs & Co. LLC and Morgan Stanley & Co. LLC were the bookrunners.
The notes are guaranteed by parent company BP plc.
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: | $1.25 billion
|
| Description: | Notes
|
| Maturity: | Feb. 24, 2050
|
| Bookrunners: | BofA Securities, Inc., Barclays, Goldman Sachs & Co. LLC and Morgan Stanley & Co. LLC
|
| Coupon: | 3%
|
| Spread: | Treasuries plus 107 bps
|
| Trade date: | Feb. 19
|
| Ratings: | Moody’s: A1
|
| S&P: A-
|
| Price guidance: | Treasuries plus 110 bps area, plus or minus 3 bps; initial talk at Treasuries plus 120 bps-125 bps area
|
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