The bond offering comprised US$2.25bil 10-year, US$2.75bil 30-year and US$1bil 40-year conventional notes.
KUALA LUMPUR: Petroliam Nasional Bhd’s (Petronas) US$6bil multi-tranche senior bond offering was oversubscribed by 6.2 times as the order book rose to US$37bil.
The bond offering comprised US$2.25bil 10-year, US$2.75bil 30-year and US$1bil 40-year conventional notes, the national oil company said in a statement on Wednesday.
“The 10-year conventional notes were priced 290 bps over the 10-year treasury to yield 3.65%, the 30-year conventional notes were priced to yield 4.55% and the 40-year conventional notes were priced to yield 4.80%, ” it said.
Petronas said with the order books reaching US$37bil at the time of pricing, the offering was one of the largest order books by an Asian issuer ever.
“The 6.2 times oversubscription ratio reflects the market’s confidence in Petronas’ credit strength which was recently affirmed at A2 by Moody’s and A- by S&P, both with stable outlooks, ” it said.