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ConocoPhillips (NYSE:COP) disclosed Tuesday it will offer notes to raise funds for its $3B acquisition of the remaining 50% stake in the Surmont oil facility in Canada.
The company did not specify how much it was looking to raise through the notes, which will comprise senior unsecured debt.
Bloomberg reported Conoco (COP) sold $2.7B of investment-grade notes in three parts, with the longest portion, a 40-year note, yielding 1.5 percentage points over U.S. Treasuries.
The company was last in the market in May, when it sold a $1.1B high-grade bond to fund a cash tender offer; it currently has ~$15.8B in total debt, according to Bloomberg.
Conoco (COP) announced in May it would acquire the remaining 50% stake in Surmont from TotalEnergies for ~$3B and assume full ownership.
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