By Mary-Katherine Stinson
Lexington, Ky., Jan. 5 – BP Capital Markets America Inc. sold a two-tranche offering of guaranteed notes totaling $2.25 billion on Thursday, according to an FWP filed with the Securities and Exchange Commission.
The $1.25 billion of 4.699% fixed-rate guaranteed notes due April 10, 2029 priced at 99.98 to yield 4.699%, or at Treasuries plus 73 basis points.
A $1 billion second tranche of 4.989% guaranteed notes due April 10, 2034 priced at 99.978 to yield 4.989%, or 100 bps above Treasuries.
The 2029 notes are callable at a make-whole premium of Treasuries plus 12.5 bps prior to March 10, 2029. For the last month they are callable at par.
Before Jan. 10, 2034, the 2034 notes are callable at a make-whole premium of Treasuries plus 15 bps. For the last three months, they will transfer to a par call.
BBVA Securities Inc., BofA Securities, Inc., Deutsche Bank Securities, Inc., J.P. Morgan Securities LLC, Mizuho Securities USA LLC, Standard Chartered Bank, Blaylock Van, LLC, R. Seelaus & Co., LLC and Siebert Williams Shank & Co., LLC are the underwriters.
The notes are guaranteed by BP plc.
BP Capital Markets America is a Chicago-based aviation and marine fuels provider and subsidiary of London-based oil and gas company BP plc.
| Issuer: | BP Capital Markets America Inc.
|
| Guarantor: | BP plc
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| Amount: | $2.25 billion
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| Issue: | Guaranteed notes
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| Underwriters: | BBVA Securities Inc., BofA Securities, Inc., Deutsche Bank Securities, Inc., J.P. Morgan Securities LLC, Mizuho Securities USA LLC, Standard Chartered Bank, Blaylock Van, LLC, R. Seelaus & Co., LLC and Siebert Williams Shank & Co., LLC
|
| Pricing date: | Jan. 4
|
| Settlement date: | Jan. 10
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|
|
| 2029 notes
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| Amount: | $1.25 billion
|
| Maturity: | April 10, 2029
|
| Coupon: | 4.699%
|
| Price: | 99.98
|
| Yield: | 4.699%
|
| Spread: | Treasuries plus 73 bps
|
| Call features: | At a make-whole premium of Treasuries plus 12.5 bps prior to March 10, 2029; after at par
|
| Cusip: | 10373QBX7
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|
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| 2034 notes
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| Amount: | $1 billion
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| Maturity: | April 10, 2034
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| Coupon: | 4.989%
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| Price: | 99.978
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| Yield: | 4.989%
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| Spread: | Treasuries plus 100 bps
|
| Call features: | At a make-whole premium of Treasuries plus 15 bps prior to Jan. 10, 2034; after at par
|
| Cusip: | 10373QBW9
|
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