February 2011
Deals of the year 2010: BP $3.5 billion senior unsecured dual tranche
The standout investment-grade transaction this year involved a company that had the odds stacked against it. For BP, 2010 won’t go down as one of the best years in its history. In April, the Deepwater Horizon incident in the Gulf of Mexico created the largest marine oil spill in the history of the petroleum industry, spewing out an estimated 4.9 million barrels before the well leak was officially declared sealed on September 19. Under siege by the US government to cover...
