BP Offers Up $3.5B in Guaranteed Notes

Details of BP's (NYSE: BP) debt offering were filed today. The company will be issuing the following:

• $2,000,000,000 of 3.125% Guaranteed Notes due 2015, with interest paid semiannually on April 1 and October 1 of each year. Pricing on the notes is 99.716% of par.
  
  BP expects proceeds before expenses of $1,987,320,000
  
  
  Spread on the notes is T+195 bps (basis points)
  
  
• $1,500,000,000 of 4.50% Guaranteed Notes due 2020, with interest paid semiannually on April 1 and October 1 of each year. Pricing on the notes is 99.451% of par.
  
  BP expects proceeds before expenses of $1,485,015,000.
  
  Spread on the notes is T+210 bps

Underwriters on the offering are Barclays Capital, BNP Paribas Securities, Citigroup, Goldman, Sachs & Co., HSBC Securities, Mizuho Securities, Morgan Stanley & Co. Incorporated, RBS Securities, Santander Investment Securities, SG Americas Securities, Credit Suisse Securities, Standard Chartered Bank, and UBS Securities.

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