By Aleesia Forni
Virginia Beach, Nov. 6 – ConocoPhillips Co. sold $3 billion of senior notes (A1/A/) in four tranches, an informed source said.
A $750 million tranche of 2.875% seven-year notes priced at Treasuries plus 78 basis points.
There was also $1 billion of 3.35% 10-year notes priced with a spread of 98 bps over Treasuries.
A third tranche was $500 million of 4.15% 20-year bonds priced at 105 bps over Treasuries.
Finally, the company sold $750 million of 4.3% notes due 2044 sold at 123 bps over Treasuries.
All four tranches sold at the tight end of price talk.
The securities are guaranteed by ConocoPhillips.
RBS Securities Inc., BofA Merrill Lynch, Citigroup Global Markets Inc. and Credit Suisse Securities (USA) LLC were the bookrunners.
Proceeds will be used to redeem $1.5 billion of ConocoPhillips’ outstanding 4.6% notes due 2015 and for general corporate purposes.
ConocoPhillips is a Houston-based energy company.
| Issuer: | ConocoPhillips Co.
|
| Guarantor: | ConocoPhillips
|
| Issue: | Senior notes
|
| Amount: | $3 billion
|
| Bookrunners: | RBS Securities Inc., BofA Merrill Lynch, Citigroup Global Markets Inc., Credit Suisse Securities (USA) LLC
|
| Trade date: | Nov. 6
|
| Ratings: | Moody’s: A1
|
| Standard & Poor’s: A
|
| Distribution: | SEC-registered
|
|
|
| Seven-year notes
|
| Amount: | $750 million
|
| Maturity: | Nov. 15, 2021
|
| Coupon: | 2.875%
|
| Spread: | Treasuries plus 78 bps
|
| Price talk: | Treasuries plus 80 bps area tightened from Treasuries plus 95 bps area
|
|
|
| 10-year notes
|
| Amount: | $1 billion
|
| Maturity: | Nov. 15, 2024
|
| Coupon: | 3.35%
|
| Spread: | Treasuries plus 98 bps
|
| Price talk: | Treasuries plus 100 bps area, tightened from Treasuries plus 110 bps area
|
|
|
| 20-year bonds
|
| Amount: | $500 million
|
| Maturity: | Nov. 15, 2034
|
| Coupon: | 4.15%
|
| Spread: | Treasuries plus 105 bps
|
| Price talk: | Treasuries plus 105 bps to 110 bps, Treasuries plus 110 bps area
|
|
|
| 30-year bonds
|
| Amount: | $750 million
|
| Maturity: | Nov. 15, 2044
|
| Coupon: | 4.3%
|
| Spread: | Treasuries plus 123 bps
|
| Price talk: | Treasuries plus 235 bps area, tightened from Treasuries plus 135 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.
