BP Funding Unit Launches Bond Sale

BP Capital Markets is launching a sale of its five and 10 year bonds, The Wall Street Journal reports. The funding arm of U.K. energy giant, BP, has not disclosed the size of the offering yet but at least $500 million of bonds will be sold.

Citigroup, BNP Paribas, Credit Suisse, Royal Bank of Scotland and Morgan Stanley have been appointed as lead managers for the sale. Earlier in September 2010, BP sold the U.S. dollar-denominated bonds to raise $3.5 billion.

Click here for the story from The Wall Street Journal.