Chevron to sell floating-rate notes, six series of fixed-rate notes

By Marisa Wong

Los Angeles, May 7 – Chevron Corp. is planning a seven-tranche offering of notes, including one tranche of floating-rate notes, according to a 424B3 filing with the Securities and Exchange Commission.

J.P. Morgan Securities LLC, Barclays, BofA Securities, Inc. and Citigroup Global Markets Inc. are the underwriters.

Proceeds will be used to refinance a portion of Chevron’s existing commercial paper borrowings. As of March 31, the outstanding amount of those borrowings was $12.7 billion, the weighted average interest rate was 1.67%, and the average maturity was 95 days.

The petroleum, chemical, mining, power and energy company is based in San Ramon, Calif.

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