Robert Dudley

Kiran Stacey

There is something of a clean up (if you’ll forgive the pun) going on at BP.
Yesterday the company sold $3.5bn worth of bonds, with demand high and the 5-year tranche being priced at a respectable (if sector-lagging) 195 bps over US Treasuries. The renewed confidence from the credit markets has helped the cost of insurance on its debt fall to 191bps from a high of 614bps in June. Read more