Aug. 5 (Bloomberg) -- Total SA, Europe’s third-biggest oil producer, sold $3 billion of dollar-denominated bonds in four parts.
The company’s $500 million of 1 percent notes due August 2016 yield 50 basis points more than similar-maturity Treasuries, $1 billion of 2.125 percent, five-year securities pay a relative yield of 75 basis points and $1 billion of 3.7 percent debt maturing in January 2024 pays a 110 basis-point spread, according to data compiled by Bloomberg. It also issued $500 million of five-year floating-rate securities to yield 57 basis points more than the three-month London interbank offered rate.
Total’s $1 billion of 2.75 percent debentures due July 2023, priced in January, traded at 93.19 cents on the dollar to yield 3.57 percent on Aug. 1, according to Trace, the bond-price reporting system of the Financial Industry Regulatory Authority.
The new securities are expected to be rated Aa1 by Moody’s Investors Service, Bloomberg data show. Bank of America Corp., Citigroup Inc. and Credit Suisse Group AG managed the offering for the company, which sold the notes through its Total Capital International and Total Capital units. Proceeds will be used for general corporate purposes.
Royal Dutch Shell Plc and BP Plc are Europe’s biggest oil producers.
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