By Wendy Van Sickle
Columbus, Ohio, June 23 – CNPC Global Capital Ltd. priced a three-tranche issue of $2 billion of notes (A1/A+/A+), according to a listing notice with the Stock Exchange of Hong Kong Ltd.
The notes are guaranteed by China National Petroleum Corp.
The deal included $600 million of 1 1/8% notes due in 2023.
The second tranche totaled $900 million of 1.35% notes due in 2025.
The third tranche was $500 million of 2% notes due in 2030.
CNPC is a government-owned oil and gas company based in Beijing.
| Issuer: | China National Petroleum Corp.
|
| Amount: | $2 billion
|
| Description: | Senior notes
|
| Listing date: | June 24
|
| Ratings: | Moody’s: A1
|
| S&P: A+
|
| Fitch: A+
|
| Distribution: | Rule 144A/Regulation S
|
|
|
| Three-year notes
|
| Amount: | $600 million
|
| Maturity: | 2023
|
| Coupon: | 1 1/8%
|
|
|
| Five-year notes
|
| Amount: | $900 million
|
| Maturity: | 2025
|
| Coupon: | 1.35%
|
|
|
| 10-year notes
|
| Amount: | $500 million
|
| Maturity: | 2030
|
| Coupon: | 2%
|
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