By Andrea Heisinger
New York, Feb. 27 - Chevron Corp. released terms Friday for an upsized $5 billion issue of notes (Aa1/AA/) in three tranches, according to an FWP filing with the Securities and Exchange Commission.
The issue was originally announced in two tranches.
The $1.5 billion of 3.45% three-year notes priced at 99.994 to yield 3.452%, or Treasuries plus 195 basis points.
The $2 billion of 3.95% five-year notes priced at 99.816 to yield 3.991%, or Treasuries plus 195 bps.
The $1.5 billion of 4.95% 10-year notes priced at 99.969 to yield 4.954%, or Treasuries plus 195 bps.
All three tranches have make-whole calls at Treasuries plus 30 bps.
Bookrunners were Barclays Capital Inc. and Morgan Stanley & Co. Inc.
Senior co-managers were Citigroup Global Markets Inc., RBS Greenwich Capital and J.P. Morgan Securities Inc.
Co-managers were BNP Paribas Securities, Calyon Securities, Deutsche Bank Securities Inc., Mitsubishi UFJ Securities, Mizuho Securities, RBC Capital Markets, SG Americas Securities, Standard Chartered Bank, Blaylock Robert Van, Guzman & Co., Loop Capital Markets LLC and the Williams Capital Group.
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.
|
| Senior co-managers: | Citigroup Global Markets Inc., RBS Greenwich Capital, J.P. Morgan Securities Inc.
|
| Co-managers: | BNP Paribas Securities, Calyon Securities, Deutsche Bank Securities Inc., Mitsubishi UFJ Securities, Mizuho Securities, RBC Capital Markets, SG Americas Securities, Standard Chartered Bank, Blaylock Robert Van, Guzman & Co., Loop Capital Markets LLC, the Williams Capital Group
|
| Trade date: | Feb. 26
|
| Settlement date: | March 3
|
| Ratings: | Moody's: Aa1
|
| Standard & Poor's: AA
|
|
|
| Three-year notes
|
| Amount: | $1.5 billion
|
| Maturity: | March 3, 2012
|
| Coupon: | 3.45%
|
| Price: | 99.994
|
| Yield: | 3.452%
|
| Spread: | Treasuries plus 195 bps
|
| Call: | Make-whole at Treasuries plus 30 bps
|
|
|
| Five-year notes
|
| Amount: | $2 billion
|
| Maturity: | March 3, 2014
|
| Coupon: | 3.95%
|
| Price: | 99.816
|
| Yield: | 3.991%
|
| Spread: | Treasuries plus 195 bps
|
| Call: | Make-whole at Treasuries plus 30 bps
|
|
|
| 10-year notes
|
| Amount: | $1.5 billion
|
| Maturity: | March 3, 2019
|
| Coupon: | 4.95%
|
| Price: | 99.969
|
| Yield: | 4.954%
|
| Spread: | Treasuries plus 195 bps
|
| Call: | Make-whole at Treasuries plus 30 bps
|
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