By Rebecca Melvin and Cristal Cody
New York, March 12 – PTT Global Chemical PCL priced $1.25 billion of notes in two tranches due 2031 and 2051, according to a market source on Friday.
A $700 million tranche of 2.98% notes due March 18, 2031 priced to yield Treasuries plus 160 basis points. Pricing came tight to initial talk for yield in the Treasuries plus 200 bps area.
A $550 million tranche of 4.3% notes due March 18, 2051 priced to yield Treasuries plus 210 bps. Pricing came tight to initial talk for yield in the Treasuries plus 250 bps area.
ANZ, BofA, Citigroup, MUFG and Standard Chartered Bank were bookrunners of the transaction.
The petrochemical and refining company is based in Bangkok.
| Issuer: | PTT Global Chemical PCL
|
| Issue: | Notes
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| Amount: | $1.25 billion
|
| Bookrunners: | ANZ, BofA, Citigroup, MUFG and Standard Chartered Bank
|
| Announcement date: | Sept. 12
|
| Settlement date: | Sept. 19
|
| Rating: | Moody's: Baa2
|
| Distribution: | Rule 144A and Regulation S
|
|
|
| 2031 notes
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| Amount: | $700 million
|
| Maturity: | March 18, 2031
|
| Coupon: | 2.98%
|
| Spread: | Treasuries plus 160 bps
|
| Talk: | Treasuries plus 200 bps area
|
|
|
| 2051 notes
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| Amount: | $550 million
|
| Maturity: | March 18, 2051
|
| Coupon: | 4.3%
|
| Spread: | Treasuries plus 210 bps
|
| Talk: | Treasuries plus 250 bps area
|
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