By Devika Patel
Knoxville, Tenn., Nov. 8 – Shell International Finance BV priced $2 billion of fixed- and floating-rate notes (Aa2/AA-) in three tranches on Wednesday, according to an FWP filing with the Securities and Exchange Commission.
Shell sold $500 million of five-year floating-rate notes at par to yield Libor plus 40 basis points.
The company also sold $1 billion of 3.5% five-year notes at 99.582 to yield 3.592%, or 53 bps over Treasuries.
Shell also sold $1.5 billion of 3.875% 10-year notes at 99.23 to yield 3.969%, or 75 bps over Treasuries.
The notes are guaranteed by Royal Dutch Shell plc.
Barclays, J.P. Morgan Securities LLC, Morgan Stanley & Co. LLC and UBS Securities LLC are the bookrunners.
The Hague, the Netherlands-based oil and gas company plans to use the proceeds for general corporate purposes.
| Issuer: | Shell International Finance BV
|
| Guarantor: | Royal Dutch Shell plc
|
| Amount: | $2 billion
|
| Description: | Fixed- and floating-rate notes
|
| Bookrunners: | Barclays, J.P. Morgan Securities LLC, Morgan Stanley & Co. LLC and UBS Securities LLC
|
| Trade date: | Nov. 7
|
| Settlement date: | Nov. 13
|
| Ratings: | Moody’s: Aa2
|
| S&P: AA-
|
| Distribution: | SEC registered
|
|
|
| Floaters
|
| Amount: | $500 million
|
| Maturity: | Nov. 13, 2023
|
| Coupon: | Libor plus 40 bps
|
| Price: | Par
|
| Yield: | Libor plus 40 bps
|
| Call: | Non-callable
|
|
|
| Five-year notes
|
| Amount: | $1 billion
|
| Maturity: | Nov. 13, 2023
|
| Coupon: | 3.5%
|
| Price: | 99.582
|
| Yield: | 3.592%
|
| Spread: | Treasuries plus 53 bps
|
| Call: | Make-whole call at Treasuries plus 10 bps until Oct. 13, 2023, then a par call
|
|
|
| 10-year notes
|
| Amount: | $1.5 billion
|
| Maturity: | Nov. 13, 2028
|
| Coupon: | 3.875%
|
| Price: | 99.23
|
| Yield: | 3.969%
|
| Spread: | Treasuries plus 75 bps
|
| Call: | Make-whole call at Treasuries plus 15 bps until Aug. 13, 2028, then a par call
|
© 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.
