Total to price 1.75bn hybrid bond

May 11, 2016 1:07 PM

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LONDON, May 11 (IFR) - Total SA is set to price a 1.75bn hybrid bond issue on Wednesday at a yield of 3.875%, according to a market source.

The French oil major started marketing a perpetual non-call six-year at yield of 4% area earlier on Wednesday, and later set the yield at 3.875% as demand surpassed 5.5bn, according to a banker on the deal.

Also read: Moody’s Expects U.S. to Sue Over Its Pre-Crisis Bond Ratings

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