Total: to issue super-subordinate bonds
(CercleFinance.com) - On Thursday, Total announced its intention to launch a euro-denominated super subordinated bond with an indefinite maturity.
The French oil group said in a statement that the final terms of the loan will be communicated today.
These new bonds will be redeemable on the company's discretion of the company from the tenth year after their issue and will bear interest at a fixed rate that can be adjusted, Total adds.
Moody's and S&P rating agencies are expected to assign "A2" and "A-" ratings to the issue, the group says.
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The French oil group said in a statement that the final terms of the loan will be communicated today.
These new bonds will be redeemable on the company's discretion of the company from the tenth year after their issue and will bear interest at a fixed rate that can be adjusted, Total adds.
Moody's and S&P rating agencies are expected to assign "A2" and "A-" ratings to the issue, the group says.
Copyright (c) 2020 CercleFinance.com. All rights reserved.