Barclays, Citi and MUFG are arranging the deal, which will have tenors ranging from seven to 12 years. The company is mostly looking for dollars, according to people familiar with the deal, though may accept part of the debt in sterling if investors desire that currency.
The launch size is $200m, though that could rise if there’s sufficient demand.
“Pretty much the whole market, across Canada, the UK and the US will be approached,” said one source familiar with the deal.
Wood Group has been in the US PP market before, with $515m US PPs outstanding — maturing in 2021, 2024, 2026, 2027 and 2029.