BLBG: BNP Paribas Plans Five-Year Benchmark Bond Sale in U.S. Dollars
BNP Paribas SA (BNP), France’s largest bank, plans to sell five-year notes in U.S. dollars as soon as today.
The offering will be of benchmark size, typically at least $500 million, said a person familiar with the transaction, who asked not to be identified because terms aren’t set.
BNP Paribas last sold fixed-rate, dollar-denominated debt of benchmark size in February 2011, issuing $2.15 billion of 3.6 percent, five-year notes that paid a yield of 135 basis points more than similar-maturity Treasuries, according to data compiled by Bloomberg.
Those securities traded at 105.1 cents on the dollar Sept. 5 to yield 2.1 percent, according to Trace, the bond-price reporting system of the Financial Industry Regulatory Authority. A basis point is 0.01 percentage point.
To contact the reporter on this story: Matt Robinson in New York at Mrobinson55@bloomberg.net.
To contact the editor responsible for this story: Alan Goldstein at agoldstein5@bloomberg.net.
