By Andrea Heisinger
New York, Nov. 3 - Woodside Finance Ltd. priced an upsized $700 million of 4.5% five-year notes on Tuesday at a spread of 230 basis points, an informed source said.
Price talk was initially 237.5 to 250 bps, a source away from the sale said. It was later revised to the 235 bps area, and priced at the tight end of that.
The size of the Rule 144A deal was increased from $500 million.
The notes (Baa1/A-) priced at 99.28 to yield 4.663%. They have a make-whole redemption at Treasuries plus 35 bps.
Citigroup Global Markets, Deutsche Bank Securities and J.P. Morgan Securities were bookrunners.
The funding subsidiary of Woodside Petroleum Ltd. is based in Perth, Australia.
| Issuer: | Woodside Finance Ltd.
|
| Issue: | Notes
|
| Amount: | $700 million, increased from $500 million
|
| Maturity: | Nov. 10, 2014
|
| Bookrunners: | Citigroup Global Markets, Deutsche Bank Securities, J.P. Morgan Securities
|
| Coupon: | 4.5%
|
| Price: | 99.28
|
| Yield: | 4.663%
|
| Spread: | Treasuries plus 230 bps
|
| Call: | Make-whole at Treasuries plus 35 bps
|
| Distribution: | Rule 144A
|
| Trade date: | Nov. 3
|
| Settlement date: | Nov. 10
|
| Ratings: | Moody's: Baa1
|
| Standard & Poor's: A-
|
| Price talk: | 237.5 to 250 bps (initial), 235 bps area (revised)
|
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