By Rebecca Melvin and Cristal Cody
Concord, N.H., April 23 – Petroliam Nasional Bhd., or Petronas, sold on Thursday $3 billion of notes in two series (A2/A-) including a 10.75-year note and a 40-year note, according to market sources.
The notes were issued by Petronas Capital Ltd.
The $1.25 billion tranche of 2.48% notes due Jan. 28, 2032 priced to yield Treasuries plus 92.5 basis points. The notes were expected to come with a spread in the Treasuries plus 135 bps area.
The $1.75 billion tranche of 3.404% notes due April 28, 2061 priced to yield Treasuries plus 115 bps. The tranche was expected in the 155 bps area.
The proceeds will be used to refinance debt.
According to a Petronas release, the 10.75-year securities were distributed to investors in Asia and the United States at 48% and 43% portions respectively, while investors in Europe and the Middle East together account for 9%.
The 40-year notes were distributed to investors in the United States (46%), Asia (40%), and Europe and the Middle East (14%).
BofA, Citigroup, HSBC, Maybank and MUFG are the bookrunners.
The proceeds will be used for debt refinancing and general corporate purposes, according to Moody’s Investors Service.
Petronas is Malaysia’s national oil company.
| Issuer: | Petronas Capital Ltd.
|
| Guarantor: | Petroliam Nasional Bhd.
|
| Issue: | Notes
|
| Amount: | $3 million
|
| Bookrunners: | BofA, Citigroup, HSBC, Maybank and MUFG
|
| Trade date: | April 22
|
| Ratings: | Moody’s: A2
|
| S&P: A-
|
|
|
| 2032 notes
|
| Amount: | $1.25 billion
|
| Maturity: | Jan. 28, 2032
|
| Coupon: | 2.48%
|
| Spread: | Treasuries plus 92.5 bps
|
| Price talk: | Treasuries plus 135 bps area
|
|
|
| 2061 notes
|
| Amount: | $1.75 billion
|
| Maturity: | April 28, 2061
|
| Coupon: | 3.404%
|
| Spread: | Treasuries plus 115 bps
|
| Price talk: | Treasuries plus 155 bps area
|
|
|
|
|
© 2015 Prospect News.
All content on this website is protected by copyright law in the U.S. and elsewhere.
For the use of the person downloading only.
Redistribution and copying are prohibited by law without written permission in advance from Prospect News.
Redistribution or copying includes e-mailing, printing multiple copies or any other form of reproduction.
