Qatar's Ras Laffan seeks consent from holders of its 3.437%, 8.294% bonds

By Susanna Moon

Chicago, Nov. 13 - Ras Laffan Liquefied Natural Gas Co. Ltd. said it began a consent solicitation for its 3.437% bonds due 2009 and its 8.294% bonds due 2014.

The company will pay a cash consent fee of 20 basis points to bondholders who deliver consents before 5 p.m. ET on Nov. 29.

Under a new Qatari law, a government-owned entity named Tasweeq will take control of the marketing of all petroleum products produced in the country at a fee that is expected to be lower than the company's current marketing costs.

The law is intended to increase the marketing efficiency of Qatari petroleum producers.

Lehman Brothers Inc. (800 438-3242 or call collect 212 528-7581, attn: liability management group) is the solicitation agent. D.F. King & Co., Inc. (800 714-3312 or 212 269-5550) is the tabulation and information agent.

The issuer, based in Doha, Qatar, is involved in the management, operation, marketing and export of liquefied natural gas.

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