BP plc (NYSE:BP) has decided to raise $3.3 billion from its first bond sale.

The UK based oil giant BP plc (NYSE:BP) is planning to raise about 2.5 billion Euros ($3.3 billion) from its first bond sale in the Eurozone currency in nine months.

The company is selling its 2019 notes at 103 basis points over swaps, compared with the spread of 101 on its outstanding June 2020 bonds.

Sheila Williams, a spokeswoman for BP plc (NYSE:BP) in London said “the sale’s proceeds would be used for general corporate purposes, without being specific or commenting on the deal terms.”

BP plc (NYSE:BP) stocks are currently standing at 47.37.

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