BP in $1.6 Billion Offering

December 6, 2011

Cleary Gottlieb represented the underwriters in an offering by BP Capital Markets, a wholly-owned subsidiary of BP, of $500 million floating rate guaranteed notes due June 2013, $450 million floating rate guaranteed notes due December 2013 and $650 million 1.70% guaranteed notes due 2014. The notes are guaranteed by BP. The joint book-running managers for the offering were Credit Agricole CIB, Goldman Sachs and Morgan Stanley. The offering, a takedown from BP and BP Capital Markets’ shelf registration statement, closed on December 6.

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.