Anadarko Petroleum 2096 Bonds Yield 6.53%
Disclosure: I am long BP. I wrote this article myself, and it expresses my own opinions. I am not receiving compensation for it (other than from Seeking Alpha). I have no business relationship with any company whose stock is mentioned in this article.
Anadarko Petroleum Corp. (APC) century bonds issued in 1996 are currently available on the secondary bond market. The lot size is 8 bonds with a minimum quantity of 1 bond offered. These bonds have traded between 6.48% and 6.613% yield in the past week.
Anadarko Pete Corp Nt 7.73% 2096, Opt Put 09/15/26@Par (cusip: 032511AJ6) call protected
Anadarko Pete Corp Deb 7.25% 2096, Cond Call (cusip: 032511AK3) not call protected
*Though S&P does rate Anadarko Petroleum, two secondary bond market profiles show no S&P rating on these particular bonds.
You may view a podcast from Standard & Poor's website regarding Anadarko Petroleum's credit outlook here. S&P states:
We continue to view Anadarko's business risk profile as strong...we view the company's financial risk as significant. With FFO (funds from operations) to debt below the norm for its rating category. Particularlly following the payout to BP plc (BP). We are holding off on raising the rating today given the uncertainly surrounding an ongoing law suit against the company, and the potential for a higher than expected settlement. READ FULL ARTICLE HERE