By Devika Patel
Knoxville, Tenn., April 2 – Shell International Finance BV priced $3.75 billion of guaranteed senior notes (Aa2/AA-) in three tranches on Wednesday, according to an FWP filed with the Securities and Exchange Commission.
A $1.5 billion tranche of 2.375% five-year notes priced at a spread of Treasuries plus 205 basis points. These notes priced at 99.78 to yield 2.422%.
Shell sold $1 billion of 2.75% 10-year notes at a 215 bps over Treasuries spread. These notes priced at 99.939 to yield 2.757%.
In the final tranche, $1.25 billion of 3.25% 30-year notes priced at a spread of 210 bps over Treasuries. These notes priced at 97.783 to yield 3.368%.
The notes are guaranteed by Royal Dutch Shell plc.
Barclays, BofA Securities, Inc., Morgan Stanley & Co. LLC and Wells Fargo Securities LLC were the bookrunners.
The Hague, the Netherlands-based oil and gas company plans to use the proceeds for general corporate purposes.
| Issuer: | Shell International Finance BV
|
| Guarantor: | Royal Dutch Shell plc
|
| Amount: | $3.75 billion
|
| Description: | Senior notes
|
| Bookrunners: | Barclays, BofA Securities, Inc., Morgan Stanley & Co. LLC and Wells Fargo Securities LLC
|
| Co-managers: | HSBC Securities (USA) Inc. and Banco Santander, SA
|
| Trade date: | April 1
|
| Settlement date: | April 6
|
| Ratings: | Moody’s: Aa2
|
| S&P: AA-
|
| Distribution: | SEC registered
|
|
|
| Five-year notes
|
| Amount: | $1.5 billion
|
| Maturity: | April 6, 2025
|
| Coupon: | 2.375%
|
| Price: | 99.78
|
| Yield: | 2.422%
|
| Spread: | Treasuries plus 205 bps
|
| Call: | Make-whole call at Treasuries plus 35 bps until March 6, 2025, then a par call
|
|
|
| 10-year notes
|
| Amount: | $1 billion
|
| Maturity: | April 6, 2030
|
| Coupon: | 2.75%
|
| Price: | 99.939
|
| Yield: | 2.757%
|
| Spread: | Treasuries plus 215 bps
|
| Call: | Make-whole call at Treasuries plus 35 bps until Jan. 6, 2030, then a par call
|
|
|
| 30-year notes
|
| Amount: | $1.25 billion
|
| Maturity: | April 6, 2050
|
| Coupon: | 3.25%
|
| Price: | 97.783
|
| Yield: | 3.368%
|
| Spread: | Treasuries plus 210 bps
|
| Call: | Make-whole call at Treasuries plus 35 bps until Oct. 6, 2049, then a par call
|
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