Total: successfully issues super subordinated notes
(CercleFinance.com) - Total has announced that it has successfully issued super subordinated notes amounting to 1.
5 billion euros, with an undetermined duration, which bear a fixed rate that may be readjusted. They have a fixed coupon of 1.750% until the first early redemption date.
The notes 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%. They are set to be issued on 4 April.
Total has also launched an offer to partially repurchase certain hybrid and super subordinated notes. The maximum amount of acceptance of this repurchase offer should be equal to the nominal amount of the new notes.
Copyright (c) 2019 CercleFinance.com. All rights reserved.
5 billion euros, with an undetermined duration, which bear a fixed rate that may be readjusted. They have a fixed coupon of 1.750% until the first early redemption date.
The notes 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%. They are set to be issued on 4 April.
Total has also launched an offer to partially repurchase certain hybrid and super subordinated notes. The maximum amount of acceptance of this repurchase offer should be equal to the nominal amount of the new notes.
Copyright (c) 2019 CercleFinance.com. All rights reserved.