By Aleesia Forni
Virginia Beach, Va., Sept. 23 - BP Capital Markets plc priced a $2.4 billion three-part offering of notes (A2/A/) on Monday, according to a market source.
The deal included $750 million of five-year floating-rate notes priced at par to yield Libor plus 63 basis points.
There was also $900 million of 2.241% five-year notes priced at par with a spread of Treasuries plus 80 bps.
A 10-year tranche of $750 million of 3.994% 10-year notes sold with a spread of Treasuries plus 130 bps.
Pricing was at par.
Proceeds will be used for general corporate purposes.
J.P. Morgan Securities LLC, BNP Paribas Securities Corp., Citigroup Global Markets Inc., Goldman Sachs & Co. and HSBC Securities (USA) LLC are the joint bookrunners.
The unit of oil company BP plc is based in London.
| Issuer: | BP Capital Markets plc
|
| Guarantor: | BP plc
|
| Issue: | Senior unsecured notes
|
| Amount: | $2.4 billion
|
| Joint bookrunners: | J.P. Morgan Securities LLC, BNP Paribas Securities Corp., Citigroup Global Markets Inc., Goldman Sachs & Co., HSBC Securities (USA) LLC
|
| Trade date: | Sept. 23
|
| Settlement date: | Sept. 26
|
| Ratings: | Moody's: A2
|
| Standard & Poor's: A
|
| Distribution: | SEC registered
|
|
|
| Five-year floaters
|
| Amount: | $750 million
|
| Maturity: | Sept. 26, 2018
|
| Coupon: | Libor plus 63 bps
|
| Price: | Par
|
| Yield: | Libor plus 63 bps
|
|
|
| Five-year notes
|
| Amount: | $900 million
|
| Maturity: | Sept. 26, 2018
|
| Coupon: | 2.241%
|
| Price: | Par
|
| Yield: | 2.241%
|
| Spread: | Treasuries plus 80 bps
|
| Price talk: | Treasuries plus 85 bps area
|
|
|
| 10-year notes
|
| Amount: | $750 million
|
| Maturity: | Sept. 26, 2023
|
| Coupon: | 3.994%
|
| Price: | Par
|
| Yield: | 3.994%
|
| Spread: | Treasuries plus 130 bps
|
| Price talk: | Treasuries plus 135 bps area
|
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