BP’s $2 Billion Offering

February 11, 2019

Cleary Gottlieb represented the underwriters in an offering by BP Capital Markets America, a wholly owned subsidiary of BP, of $1 billion 3.41% notes due 2026 and $1 billion 4.234% notes due 2028 (a re-opening of the 4.234% notes due 2028 issued in November 2018).

The notes are guaranteed by BP. The joint book-running managers for the offering were BNP Paribas, BofA Merrill Lynch, Deutsche Bank Securities, HSBC, Lloyds Securities, and Morgan Stanley. The offering, a takedown from BP and BP Capital Markets America’s shelf-registration statement, closed on February 11, 2019.

BP is one of the world’s leading international oil and gas companies. It operates in more than 70 countries and provides its customers with fuel for transportation, energy for heat and light, retail services, and petrochemical products for everyday items.