Dollar investment grade (corporate) deal of the year – BP

Dollar investment grade (corporate) deal of the year – BP


Issuer: BP Capital Markets
Issue date: September 28, 2010
Size: $3.5 billion
Ratings: A2/A (Moody’s/S&P)
Coupon: ($2bn 5yr notes) 3.125%; ($1.5 bn 10yr notes) 4.5%
Issue spread: 195bp + Treasuries (5yr); 210bp + Treasuries (10yr)

After being at the centre of what the US president described as “the worst environmental catastrophe America has ever faced,” oil giant BP seemed an unlikely candidate for Deal of the Year honours.

In fact, for several weeks following the Deepwater Horizon oil rig disaster

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