Anadarko planning two-part $1.25B bond sale

|About: Anadarko Petroleum Corporation (APC)|By:, SA News Editor

Anadarko Petroleum (APC) plans to sell $1.25B of debt, to include $625M each of 10- and 30-year notes, Bloomberg reports.

APC last issued bonds in Aug. 2010, when it sold $2B of 6.4% notes due 2017 that yielded ~415 bps more than government bonds; the 10-year notes that may be issued as soon as today may yield 90 bps more than similar-maturity Treasurys, while the 30-year debentures may yield 115 bps more than benchmarks.

Proceeds from the offering may be used for general corporate purposes, including debt repayment, working capital, capex and acquisitions.