Likely Nothing

[Tree]

 

 

This is likely nothing.  The interest is this sounds sorta, kinda like it could fit IOC's circumstances.

TOT maintains ~$25 Billion in cash/equivalents.  Cash is king in Oil downturns

11/25/15 Launched and placed $1.2 billion financing which looks like it's basically free.

* $1.2 Billion ~ a resource payment

*  maturation  2022 ~ Papua LNG start-up

*  General Corporate Putposes - TOT's leadership move into gas to combat 'global warming',

Total successfully places $1.2 billion “synthetic” bond financing

November 25, 2015

Paris - Total has successfully placed a new debt financing of $1.2 billion through a structure combining the issue of cash-settled convertible bonds with the purchase of cash-settled call options to hedge Total's exposure to the exercise of the conversion rights under the bonds. The “synthetic” bond financing resulting from these two products has no dilution impact on the equity.

The transaction enables Total to access a new investor base and to benefit from improved financing terms compared to a senior bond issuance.

The bonds will mature on December 2, 2022, be issued at par, will bear a coupon of 0.50% and have a conversion price including a premium of 20% above the reference share price. This reference share price will be determined as the arithmetic average of Total’s daily volume weighted average share price on the Euronext Paris converted in dollars over a period of ten consecutive trading days on the Euronext Paris, commencing on November 26, 2015.

Total intends to use the net proceeds of the transaction of the bonds for general corporate purposes.

The book-runners will enter into transactions to hedge their respective positions under the call options, including transactions to be conducted during the period when the reference share price will be determined.

- See more at: http://www.total.com/en/media/news/press...9jnbR.dpuf

*****

General Corporate Purposes Definition

General corporate purposes are the highest-level objectives in a business. Companies normally lay out general purposes for their operations in incorporation articles and in mission statements. These are separate from the purposes of functional departments, divisions and project teams that have more narrow objectives that may or may not align with corporate purposes.

[Spartina]

Thanks Tree.

[Tree]

Thanks Tree.

And it looks like it's kinda free money.

Good times to be a Spartina  GO GREEN!!

[jft310]

Boomer Sooner !! Color me red..