By Christine Van Dusen
Atlanta, March 29 - PTT Exploration and Production Canada sold $700 million notes due April 5, 2021 (Baa1/BBB+/) at par to yield 5.692%, or Treasuries plus 225 basis points, a market source said.
The notes priced at the tight end of talk, which was set at the Treasuries plus 235 bps area.
Barclays Capital was the bookrunner for the Rule 144A and Regulation S transaction.
PTTEP Canada is part of PTT Exploration and Production PCL, a Bangkok-based petroleum exploration and production company.
| Issuer: | PTT Exploration and Production Canada
|
| Amount: | $700 million
|
| Maturity: | April 5, 2021
|
| Description: | Senior notes
|
| Bookrunner: | Barclays Capital
|
| Coupon: | 5.692%
|
| Price: | Par
|
| Yield: | 5.692%
|
| Spread: | Treasuries plus 225 bps
|
| Trade date: | March 29
|
| Settlement date: | April 5
|
| Ratings: | Moody's: Baa1
|
| Standard & Poor's: BBB+
|
| Distribution: | Rule 144A and Regulation S
|
| Price talk: | Treasuries plus 235 bps area
|
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