By Cristal Cody
Tupelo, Miss., Nov. 26 – Thailand’s PTTEP Treasury Center Co. Ltd. priced $650 million of 3.903% medium-term notes due Dec. 6, 2059 (Baa1//BBB+) in a Rule 144A and Regulation S offering on Tuesday at a spread of 172.5 basis points over Treasuries, according to a market source.
Initial price talk was in the 195 bps over Treasuries area.
BofA Securities, Inc., Citigroup Global Markets Ltd., HSBC Bank plc and Societe Generale were the bookrunners.
The notes are guaranteed by parent company PTT Exploration & Production PCL.
The oil and gas exploration and production company is based in Bangkok.
| Issuer: | PTTEP Treasury Center Co. Ltd.
|
| Guarantor: | PTT Exploration & Production PCL
|
| Amount: | $650 million
|
| Description: | Medium-term notes
|
| Maturity: | Dec. 6, 2059
|
| Bookrunners: | BofA Securities, Inc., Citigroup Global Markets Ltd., HSBC Bank plc and Societe Generale
|
| Coupon: | 3.903%
|
| Spread: | Treasuries plus 172.5 bps
|
| Trade date: | Nov. 26
|
| Ratings: | Moody’s: Baa1
|
| Fitch: BBB+
|
| Distribution: | Rule 144A and Regulation S
|
| Price guidance: | Treasuries plus 195 bps area
|
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