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.

Total's $1 billion of 2.75 percent debentures due July 2023, priced in January, traded at 93.19 cents on the dollar to yield 3.57 percent on Aug. 1, according to Trace, the bond-price reporting system of the Financial Industry Regulatory Authority.