By Sheri Kasprzak
New York, Nov. 8 - Halliburton Co. priced $1 billion of senior notes (A2/A/) on Tuesday, according to a term sheet filed with the Securities and Exchange Commission.
The offering included $500 million of 10-year notes and $500 million of 30-year notes.
The 10-year notes have a 3.25% coupon and a spread of Treasuries plus 120 bps. The notes were priced at 99.67 to yield 3.289%. The notes feature a make-whole call option at Treasuries plus 20 bps before Aug. 15, 2021. They are callable on or after Aug. 15, 2021, at par.
The 30-year notes have a 4.5% coupon and a spread of Treasuries plus 140 bps. The notes were priced at 99.494 to yield 4.531%. The notes have a make-whole call option at Treasuries plus 25 bps any time before May 15, 2041. They may be redeemed any time beginning May 15, 2041 at par.
The joint bookrunners for the notes are Citigroup Global Markets Inc., Deutsche Bank Securities Inc., HSBC Securities (USA) LLC, RBS Securities Inc., Credit Suisse Securities (USA) LLC and Morgan Stanley & Co. LLC. The senior co-managers are DnB NOR Markets Inc., Goldman Sachs & Co., J.P. Morgan Securities LLC, Lloyds Securities Inc., U.S. Bancorp Investment Inc. and Wells Fargo Securities LLC. The co-managers are Scotia Capital (USA) Inc., Standard Chartered Bank and SMBC Nikko Capital Markets Ltd.
Proceeds will be used for general corporate purposes.
Based in Houston, Halliburton is an oilfield services company.
| Issuer: | Halliburton Co.
|
| Issue: | Senior notes
|
| Amount: | $1 billion
|
| Bookrunners: | Citigroup Global Markets Inc., Deutsche Bank Securities Inc., HSBC Securities (USA) LLC, RBS Securities Inc., Credit Suisse Securities (USA) LLC and Morgan Stanley & Co. LLC
|
| Senior co-managers: | DnB NOR Markets Inc., Goldman Sachs & Co., J.P. Morgan Securities LLC, Lloyds Securities Inc., U.S. Bancorp Investment Inc. and Wells Fargo Securities LLC
|
| Co-managers: | Scotia Capital (USA) Inc., Standard Chartered Bank and SMBC Nikko Capital Markets Ltd.
|
| Pricing date: | Nov. 8
|
| Settlement date: | Nov. 14
|
| Ratings: | Moody's: A2
|
| Standard & Poor's: A
|
|
|
| 10-year notes
|
| Amount: | $500 million
|
| Maturity: | Nov. 15, 2021
|
| Coupon: | 3.25%
|
| Price: | 99.67
|
| Yield: | 3.289%
|
| Spread: | Treasuries plus 120 bps
|
| Call option: | Make-whole before Aug. 15, 2021 at Treasuries plus 20 bps; at par on or after Aug. 15, 2021
|
|
|
| 30-year notes
|
| Amount: | $500 million
|
| Maturity | Nov. 15, 2041
|
| Coupon: | 4.5%
|
| Price: | 99.494
|
| Yield: | 4.531%
|
| Spread: | Treasuries plus 140 bps
|
| Call option: | Make-whole before May 15, 2041 at Treasuries plus 25 bps; at par on or after May 15, 2041
|
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