By Aleesia Forni
Virginia Beach, Va., Oct. 3 - Petrofac Ltd. priced an upsized $750 million of 3.4% five-year notes (Baa1/BBB+/) with a spread of Treasuries plus 212.5 basis points, according to an informed source.
Pricing was at 99.627 to yield 3.482%.
The notes priced on top of talk.
Proceeds will be used for general corporate purposes.
Barclays and J.P. Morgan Securities LLC were the joint bookrunners for the Rule 144A and Regulation S offering.
The oilfield services company is based on London.
| Issuer: | Petrofac Ltd.
|
| Amount: | $750 million, upsized from $500 million
|
| Description: | Senior notes
|
| Maturity: | Oct. 10, 2018
|
| Bookrunners: | Barclays, J.P. Morgan Securities LLC
|
| Coupon: | 3.4%
|
| Price: | 99.627
|
| Yield: | 3.482%
|
| Spread: | Treasuries plus 212.5 bps
|
| Trade date: | Oct. 3
|
| Settlement date: | Oct. 8
|
| Ratings: | Moody's: Baa1
|
| Standard & Poor's: BBB+
|
| Make-whole call: | Treasuries plus 35 bps
|
| Price talk: | Treasuries plus 212.5 bps
|
| Distribution: | Rule 144A, Regulation S
|
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