Davis Polk advised Credit Suisse Securities (USA) LLC, Goldman, Sachs & Co. and Merrill, Lynch, Pierce, Fenner & Smith Incorporated as joint book-running managers on an SEC-registered offering by Statoil ASA of $2.0 billion principal amount of notes guaranteed by its operating subsidiary, Statoil Petroleum AS. The offering consisted of $600 million principal amount of 1.20% notes due 2018, $1.1 billion principal amount of 2.45% notes due 2023 and a $300 million principal amount reopening of its 4.25% notes due 2041.
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 Banes and associates Phillip G. Sharp and Martin Bengtzen. Counsel Jeanine P. McGuinness provided regulatory advice. Partner John D. Paton and associate Sarah Joy provided tax advice. Members of the Davis Polk team are based in the London and Washington DC offices.
