Aker BP flexes new muscles and targets IG buyers
Norwegian oil exploration and production company Aker BP took advantage of its second investment grade rating, out of three, received in November, to position itself as an investment grade issuer and print a dual tranche five and 10 year deal this week.
Citi, DNB Markets, ING, JP Morgan and Wells Fargo were joint global coordinators on the investor call on Tuesday, which explicitly targeted IG bond buyers, and the dual tranche bond that followed.This consisted of a $500m five year and a $1bn 10 year offered in Reg S/144A format. ...
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