Davis Polk advised Credit Suisse Securities (USA) LLC, Deutsche Bank Securities Inc., Merrill Lynch, Pierce, Fenner & Smith Incorporated and Morgan Stanley & Co. LLC as joint book-running managers on an SEC-registered offering by Statoil ASA of $4 billion principal amount of notes guaranteed by its operating subsidiary, Statoil Petroleum AS. The offering consisted of $750 million principal amount of floating-rate notes due 2018, $750 million principal amount of 1.95% notes due 2018, $750 million principal amount of 2.9% notes due 2020, $1 billion principal amount of 3.7% notes due 2024 and $750 million principal amount of 4.8% notes due 2043.
Based in Norway, Statoil ASA is an integrated, major international oil and gas company, primarily focused on the exploration, development and production of oil and natural gas worldwide, and is the leading producer of crude oil and gas on the Norwegian Continental Shelf.
The Davis Polk corporate team included partner John W. Banes and associates Roman Ajzen, Tiaan Schreuder and Julia Danforth. Counsel Alon Gurfinkel provided tax advice. Members of the Davis Polk team are based in the London office.
