Total: intends to issue super subordinated notes
(CercleFinance.com) - Total has announced its intention to issue euro-denominated super subordinated notes, which are redeemable at the company's option from the fifth year onwards and which bear a fixed rate that may be readjusted.
The pricing of these new bonds should be announced later doday. They are due to be listed on Euronext Paris, with the rating agencies having awarded them ratings of A2/A- (Moody's/S&P) and an “equity credit” of 50%.
The oil giant is also launching an offer to partially redeem super subordinated bonds of 2.5 billion euros, which are repayable from 26 February 2021, with 1.75 billion euros repayable from 18 May 2022.
Copyright (c) 2019 CercleFinance.com. All rights reserved.
The pricing of these new bonds should be announced later doday. They are due to be listed on Euronext Paris, with the rating agencies having awarded them ratings of A2/A- (Moody's/S&P) and an “equity credit” of 50%.
The oil giant is also launching an offer to partially redeem super subordinated bonds of 2.5 billion euros, which are repayable from 26 February 2021, with 1.75 billion euros repayable from 18 May 2022.
Copyright (c) 2019 CercleFinance.com. All rights reserved.