New Issue: Halliburton gives terms of $3 billion four-part notes issuance

By Aleesia Forni

Virginia Beach, Va., July 30 - Halliburton Co. gave full terms of its $3 billion sale of senior notes (A2/A/A-) in four tranches on Tuesday, according to an FWP filing with the Securities and Exchange commission.

The deal priced during Monday's session.

The $600 million tranche of 1% notes due 2016 priced at a spread of Treasuries plus 43 basis points. Initial talk was in the 45 bps area.

The notes priced at 99.924 to yield 1.026%.

Citigroup Global Markets Inc., Deutsche Bank Securities Inc., HSBC Securities (USA) Inc., RBS Securities Inc. and Credit Suisse Securities (USA) LLC were the bookrunners for the notes due 2016.

The company's $400 million of 2% notes due 2018 sold at a spread of 63 bps over Treasuries or 99.929% to yield 2.015%. Guidance was initially in the 65 bps area.

Citigroup Global Markets Inc., Deutsche Bank Securities Inc., HSBC Securities (USA) Inc., RBS Securities Inc. and J.P. Morgan Securities LLC were the bookrunners for the notes due 2018.

There was also $1.1 billion of 3.5% notes due 2023 priced at a spread of Treasuries plus 93 bps or 99.766 to yield 3.528%. Talk was initially in the 95 bps to 100 bps range.

Citigroup Global Markets Inc., Deutsche Bank Securities Inc., HSBC Securities (USA) Inc., RBS Securities Inc. and Morgan Stanley & Co. LLC were the bookrunners for the notes due 2023.

Finally, there was a tranche of $900 million 4.75% 30-year bonds sold at a spread of 110 bps over Treasuries or 99.794 to yield 4.763%. Initial guidance was in the 112.5 bps area.

Citigroup Global Markets Inc., Deutsche Bank Securities Inc., HSBC Securities (USA) Inc., RBS Securities Inc. and Goldman, Sachs & Co. were the bookrunners for the notes due 2043.

Proceeds, along with cash on hand, will be used to fund the repurchase of common stock in a tender offer, along with related fees and expenses.

Halliburton, a Houston-based diversified energy services company, was last in the U.S. bond market with a $1 billion offering of senior notes in two parts on Nov. 8, 2011. That trade included a 3.25% 10-year note sold at 120 bps over Treasuries and a 4.5% 30-year bond priced at Treasuries plus 140 bps.

Issuer:	Halliburton Co.
Issue:	Senior notes
Amount:	$3 billion
Trade date:	July 29
Settlement date:	Aug. 5
Ratings:	Moody's: A2
	Standard & Poor's: A
	Fitch: A-
Three-year notes
Amount:	$600 million
Bookrunners:	Citigroup Global Markets Inc., Deutsche Bank Securities Inc., HSBC Securities (USA) Inc., RBS Securities Inc., Credit Suisse, Securities (USA) LLC
Senior co-managers:	Barclays, DnB NOR Markets Inc., Goldman, Sachs & Co., J.P. Morgan Securities LLC, BofA Merrill Lynch, Mitsubishi UFJ Securities (USA), Inc., Morgan Stanley & Co. LLC, U.S. Bancorp Investments, Inc., Wells Fargo Securities, LLC
Co-managers:	BBVA Securities, Inc., Lloyds Securities Inc., Scotia Capital (USA) Inc., SMBC Nikko Securities America, Inc., Standard Chartered Bank, ANZ Securities, Inc., BNY Mellon Capital Markets, LLC
Maturity:	Aug. 1, 2016
Coupon:	1%
Price:	99.924
Yield:	1.026%
Spread:	Treasuries plus 43 bps
Price talk:	45 bps area
Make-whole call:	Greater of par or a discount rate of Treasuries plus 10 bps
Five-year notes
Amount:	$400 million
Bookrunners:	Citigroup Global Markets Inc., Deutsche Bank Securities Inc., HSBC Securities (USA) Inc., RBS Securities Inc., J.P. Morgan Securities LLC
Senior co-managers:	Barclays, Credit Suisse Securities (USA) LLC, DnB NOR Markets, Inc., Goldman, Sachs & Co., BofA Merrill Lynch, Mitsubishi UFJ Securities (USA), Inc., Morgan Stanley & Co. LLC, U.S. Bancorp Investments, Inc., Wells Fargo Securities, LLC
Co-managers:	BBVA Securities Inc., Lloyds Securities Inc., Scotia Capital (USA) Inc., SMBC Nikko Securities America, Inc., Standard Chartered Bank, ANZ Securities, Inc., BNY Mellon Capital Markets, LLC
Maturity:	Aug. 1, 2018
Coupon:	2%
Price:	99.929
Yield:	2.015%
Spread:	Treasuries plus 63 bps
Price talk:	65 bps area
Make-whole call:	Before July 1, 2018 at the greater of par or discount rate of Treasuries plus 12.5 bps, after July 1, 2018 at par
10-year notes
Amount:	$1.1 billion
Bookrunners:	Citigroup Global Markets Inc., Deutsche Bank Securities Inc., HSBC Securities (USA) Inc., RBS Securities Inc., Morgan Stanley & Co. LLC
Senior co-managers:	Barclays, Credit Suisse Securities (USA) LLC, DnB NOR Markets, Inc., Goldman, Sachs & Co., J.P. Morgan Securities LLC, BofA Merrill Lynch, Mitsubishi UFJ Securities (USA), Inc., U.S. Bancorp Investments, Inc., Wells Fargo Securities, LLC
Co-managers:	BBVA Securities Inc., Lloyds Securities Inc., Scotia Capital (USA) Inc., SMBC Nikko Securities America, Inc., Standard Chartered Bank, ANZ Securities, Inc., BNY Mellon Capital Markets, LLC
Maturity:	Aug. 1, 2023
Coupon:	3.5%
Price:	99.766
Yield:	3.528%
Spread:	Treasuries plus 93 bps
Price talk:	95 bps to 100 bps
Make-whole call:	Before May 1, 2023 at the greater of par or a discount rate of Treasuries plus 15 bps and after May 1, 2023 at par
30-year bonds
Amount:	$900 million
Bookrunners:	Citigroup Global Markets Inc., Deutsche Bank Securities Inc., HSBC Securities (USA) Inc. ,RBS Securities Inc., Goldman, Sachs & Co.
Senior co-managers:	Barclays, Credit Suisse Securities (USA) LLC, DnB NOR Markets Inc., J.P. Morgan Securities LLC, BofA Merrill Lynch, Mitsubishi UFJ Securities (USA), Inc., Morgan Stanley & Co. LLC, U.S. Bancorp Investments, Inc., Wells Fargo Securities, LLC
Co-managers:	BBVA Securities Inc., Lloyds Securities Inc., Scotia Capital (USA) Inc., SMBC Nikko Securities America, Inc., Standard Chartered Bank, ANZ Securities, Inc., BNY Mellon Capital Markets, LLC
Maturity:	Aug. 1, 2043
Coupon:	4.75%
Price:	99.794
Yield:	4.763
Spread:	Treasuries plus 110 bps
Price talk:	112.5 bps area
Make-whole call:	Before Feb. 1, 2042 at the greater of par of a discount rate of Treasuries plus 20 bps and after Feb. 1, 2043 at par

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