By Cristal Cody
Tupelo, Miss., Feb. 25 – Woodside Finance Ltd. priced $1.5 billion of 4.5% 10-year notes (Baa1/BBB+) at a spread of 185 basis points over Treasuries on Monday, according to a market source.
The notes priced on the tight side of talk in the Treasuries plus 190 bps area. Initial price talk was in the Treasuries plus 205 bps area.
BofA Merrill Lynch, Citigroup Global Markets and UBS Securities LLC were the lead managers of the Rule 144A and Regulation S offering.
Woodside Finance is a Perth, Australia-based financing company and subsidiary of Woodside Petroleum Ltd.
| Issuer: | Woodside Finance Ltd.
|
| Amount: | $1.5 billion
|
| Maturity: | March 4, 2029
|
| Securities: | Notes
|
| Bookrunners: | BofA Merrill Lynch, Citigroup Global Markets and UBS Securities LLC
|
| Coupon: | 4.5%
|
| Spread: | Treasuries plus 185 bps
|
| Trade date: | Feb. 25
|
| Ratings: | Moody’s: Baa1
|
| S&P: BBB+
|
| Distribution: | Rule 144A and Regulation S
|
| Marketing: | Roadshow
|
| Price guidance: | Treasuries plus 190 bps area, plus or minus 5 bps; initial talk at Treasuries plus 205 bps area
|
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