BP in $1.5 Billion Offering

November 7, 2013

Cleary Gottlieb represented the underwriters in an offering by BP Capital Markets, a wholly owned subsidiary of BP, of $350 million floating rate notes due May 2015, $500 million floating rate notes due November 2015, and $650 million floating rate notes due 2016. The notes are guaranteed by BP. The joint book-running managers for the offering were Morgan Stanley, RBS and UBS Investment Bank. The offering, a takedown from BP and BP Capital Markets’ shelf registration statement, closed on November 7.

BP is one of the world’s leading international oil and gas companies. It operates in more than 80 countries and provides its customers with fuel for transportation, energy for heat and light, retail services, and petrochemical products for everyday items.