New Issue-Devon Energy sells $1.2 bln in two parts

Tue Jan 6, 2009 9:42pm GMT
[-] Text [+]
  Jan 6 (Reuters) - Oklahoma City-based Devon Energy
Corporation (DVN.N: Quote, Profile, Research) on Tuesday sold $1.2 billion in two parts,
according to IFR, a Thomson Reuters publication.
  Bank of America, J. P. Morgan, and UBS were the joint
bookrunning managers for the sale.
BORROWER: DEVON ENERGY CORPORATION
FIRST TRANCHE:
AMT $500 MLN      COUPON 5.625 PCT    MATURITY 1/15/2014 
TYPE NOTES        ISS PRICE 99.774    FIRST PAY 7/15/2009
MOODY'S Baa1      YIELD 5.667 PCT     SETTLEMENT 12/9/2009
S&P BBB-PLUS      SPREAD 400 BPS/     PAY FREQ SEMI-ANNUAL
FITCH N/A          MORE THAN TREAS    MAKE-WHOLE CALL 50 BPS
SECOND TRANCHE:
AMT $700 MLN      COUPON 6.30 PCT     MATURITY 1/15/2019 
TYPE NOTES        ISS PRICE 99.698    FIRST PAY 7/15/2009
MOODY'S Baa1      YIELD 6.341 PCT     SETTLEMENT 12/9/2009
S&P BBB-PLUS      SPREAD 385 BPS/     PAY FREQ SEMI-ANNUAL
FITCH N/A          MORE THAN TREAS    MAKE-WHOLE CALL 50 BPS


 
 
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