$3 Billion Bond Issue for Total

European oil producer Total SA is planning a four-part, $3 billion bond issue in the United States.

Total SA, Europe’s third-biggest oil producer, is planning to sell $3 billion of dollar-denominated bonds in four parts as soon as today, according to a person with knowledge of the transaction.

The company may sell $500 million of debt due 2016 to yield 50 basis points more than similar-maturity Treasuries, $1 billion of five-year securities at a relative yield of 75 basis points, and $1 billion of notes maturing in 2024 at a 110 basis-point spread, said the person, who asked not to be identified because terms aren’t set. It may also issue $500 million of five-year floating-rate notes to yield 57 basis points more than the three-month London interbank offered rate.

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