Cnooc raises first $2bn dual-tranche deal

China’s largest offshore oil and gas producer has stunned global markets with a $2 billion equivalent dual-tranche bond – the first from a Chinese company.
The proceeds of the deal will be used partially to finance Cnooc's acquisition of certain interests in Queensland Curtis LNG project from BG Group.
The proceeds of the deal will be used partially to finance Cnooc's acquisition of certain interests in Queensland Curtis LNG project from BG Group.

A subsidiary of Cnooc, the largest offshore oil and gas producer in China, on Thursday became the first mainland group to raise a dual-tranche senior unsecured fixed-rate note, launching a debut in European markets that diversified its fundraising efforts.

¬ Haymarket Media Limited. All rights reserved.

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