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Thailand's PTT talks $250 million 30-year bullet at Treasuries plus 155-165 bps, pricing Wednesday
By Paul A. Harris
St. Louis, July 26 - Thailand oil and gas conglomerate PTT PCL talked its $250 million offering of 30-year notes (A2/BBB+) at U.S. Treasuries plus 155 to 165 basis points on Tuesday, according to market sources.
Pricing is expected to take place on Wednesday.
JP Morgan has the books for the Rule 144A/Regulation S offering. Bear Stearns & Co. is the joint lead manager.
Proceeds will be used to refinance long-term debt and help finance the company's 2005 through 2009 investment plan, which includes a third pipeline.
PTT has headquarters in Bangkok, Thailand.
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