Herbert Smith has advised CNOOC Limited (“CNOOC”) on the US$2 billion Rule 144A/Regulation S offering of the senior unsecured fixed rate notes by a subsidiary of CNOOC. The notes, which are guaranteed by CNOOC, consist of two tranches due in 2021 and 2041, respectively. The notes will be listed and traded on the Hong Kong Stock Exchange (“SEHK”). Barclays Capital, BofA Merrill Lynch, BOC International, Citi, Goldman Sachs (Asia) L.L.C. and J.P. Morgan were the joint lead managers and joint bookrunners for the offering.
CNOOC, along with its subsidiaries (the “Group”), is an upstream company specialised in the exploration, development and production of oil and natural gas. The Group is a dominant oil and natural gas producer in offshore China and is also one of the largest independent oil and gas exploration and production companies in the world in terms of reserves and production.
CNOOC is listed on the SEHK and the New York Stock Exchange.
The US team was led by partner Kevin Roy and senior associates Melody Chen and Siddhartha Sivaramakrishnan, assisted by associates Han Han and Stanley Xie. The Hong Kong team was led by partners Ashley Alder and Carolyn Sng, assisted by associates Sum Wai Foong and Gloria Lam. The Beijing team included associates Arthur Xu and Lawrence Wang.
Melody Chen commented:
“We are very pleased to have advised CNOOC on this significant bond offering, which was successfully completed on a challenging timetable.”
Carolyn Sng added:
“We are delighted that we have been able to work with our important client on this successful transaction. It confirms our position as one of the leading advisers for capital markets transactions in Greater China.”
Related Posts:
- None Found