PTT Exploration and Production PCL : 2ND UPDATE : PTTEP Launches $500 Million Bond At 6.35%
06/07/2012| 12:44pm US/Eastern
(Adds launch terms in first and second paragraphs.)
By Natasha Brereton-Fukui and Patrick McGee
Thai state-owned oil and gas firm PTT Exploration & Production PCL (PTTEP.TH) has launched its $500 million bond with a yield of 6.35%, according to a banker familiar with the deal.
The 30-year bond was originally planned at 6.5%, but strong demand has enabled the issuer to reduce its borrowing cost.
The offering of fixed-rate senior-unsecured notes is being issued by PTTEP Canada International Finance Ltd.
Citigroup, Deutsche Bank, HSBC and UBS are bookrunners on the planned Rule 144A/ Reg S deal, which is provisionally rated Baa1 by Moody's Investors Service and triple-B-plus by Standard & Poor's Ratings Services, both with negative outlooks.
Write to Natasha Brereton-Fukui at email@example.com