By Andrea Heisinger
Omaha, Nov. 28 - EnCana Corp. priced $1.5 billion of notes (Baa2/A-/A) in two tranches Wednesday, an informed source said.
A $700 million tranche of 5.9% 10-year notes priced at 99.829 to yield 5.923%, or Treasuries plus 190 basis points.
An $800 million tranche of 6.5% 30-year notes priced at 99.769 to yield 6.516%, or Treasuries plus 210 bps.
Bookrunners were Citigroup and UBS Investment Bank.
The Canadian oil and gas company is based in Calgary, Alta.
| Issuer: | EnCana Corp.
|
| Issue: | Notes
|
| Total amount: | $1.5 billion
|
| Bookrunners: | Citigroup, UBS Investment Bank
|
| Trade date: | Nov. 28
|
| Settlement date: | Dec. 4
|
| Ratings: | Moody's: Baa2
|
| Standard & Poor's: A-
|
| Fitch: A
|
|
|
| 10-year tranche
|
| Amount: | $700 million
|
| Maturity: | Dec. 1, 2017
|
| Coupon: | 5.9%
|
| Price: | 99.829
|
| Yield: | 5.923%
|
| Spread: | Treasuries plus 190 bps
|
| Call: | Make-whole at Treasuries plus 30 bps
|
|
|
| 30-year tranche
|
| Amount: | $800 million
|
| Maturity: | Feb. 1, 2038
|
| Coupon: | 6.5%
|
| Price: | 99.769
|
| Yield: | 6.516%
|
| Spread: | Treasuries plus 210 bps
|
| Call: | Make-whole at Treasuries plus 35 bps
|
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