By Andrea Heisinger
New York, Feb. 26 - Chevron Corp. priced an upsized $5 billion of notes (Aa1/AA/.) in three tranches Thursday, an informed source said.
The issue was originally announced in two tranches.
A term sheet was not available at press time.
The $1.5 billion of 3.45% three-year notes priced to yield Treasuries plus 195 basis points.
The $2 billion of 3.95% five-year notes priced to yield Treasuries plus 195 bps.
The $1.5 billion of 4.95% 10-year notes priced to yield Treasuries plus 195 bps.
Bookrunners were Barclays Capital Inc. and Morgan Stanley & Co. Inc.
Proceeds will be used for general corporate purposes, including refinancing a portion of existing commercial paper borrowings or long- and short-term debt of Chevron and its subsidiaries. Proceeds may also be used for financing capital programs.
The petroleum, chemical, mining, power and energy company is based in San Ramon, Calif.
Issuer: | Chevron Corp.
|
Issue: | Notes
|
Total amount: | $5 billion, upsized from two tranches
|
Bookrunners: | Barclays Capital Inc., Morgan Stanley & Co. Inc.
|
Trade date: | Feb. 26
|
Settlement date: | March 3
|
Ratings: | Moody's: Aa1
|
| Standard & Poor's: AA
|
|
Three-year notes
|
Amount: | $1.5 billion
|
Maturity: | 2012
|
Coupon: | 3.45%
|
Spread: | Treasuries plus 195 bps
|
|
Five-year notes
|
Amount: | $2 billion
|
Maturity: | 2014
|
Coupon: | 3.95%
|
Spread: | Treasuries plus 195 bps
|
|
10-year notes
|
Amount: | $1.5 billion
|
Maturity: | 2019
|
Coupon: | 4.95%
|
Spread: | Treasuries plus 195 bps
|
© 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.