BlackRock Inc., the world's largest asset manager, plans to sell $2.5 billion of bonds in three parts, the company's first offering since its debut issue more than two years ago.

Blackrock plans to sell three-year notes in addition to the five- and 10-year debt initially planned, according to a person familiar with the offering.

The $500 million of three-year notes may price to yield 110 basis points more than similar-maturity Treasuries, the $1 billion of five-year debt may yield 135 basis points more than benchmarks, and the $1 billion of 10-year bonds may pay a spread of 160 basis points, said the person, who declined to be identified because terms are not set.

The proceeds will be used to repay commercial paper, the New York asset manager said Monday in a filing with the Securities and Exchange Commission. The filing did not specify the size of the deal or the maturities being offered.

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