Woodside chips off 400bp on dollar bond return
Woodside Finance, a subsidiary of Australia’s Woodside Petroleum, issued a $700m bond on Tuesday in the borrower’s second deal since it returned to the market in February after more than a five year lay-off.
Citi, Deutsche Bank and JPMorgan arranged the five year 144a bond, which paid a coupon of 4.5%.
It priced at 230bp over Treasuries — 395bp inside where Woodside priced a 2014 tranche in February showing the resurgence of the dollar bond market since the start of the year.
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