China Oilfield Services subsidiary COSL Finance plans note offering

By Angela McDaniels

Tacoma, Wash., Aug. 23 - China Oilfield Services Ltd. subsidiary COSL Finance (BVI) Ltd. plans to offer notes to institutional investors, according to a company news release.

The lead managers and bookrunners are BOCI Asia Ltd.; Citigroup Global Markets Inc.; UBS AG, Hong Kong Branch; China Merchants Securities (HK) Co., Ltd.; Credit Suisse Securities (Europe) Ltd.; DBS Bank Ltd.; Deutsche Bank AG, Singapore Branch; Goldman Sachs (Asia) LLC; Hongkong and Shanghai Banking Corp. Ltd. and J.P. Morgan Securities plc. BOCI Asia, Citigroup and UBS are acting as global coordinators.

The completion of the proposed Rule 144A and Regulation S issue is subject to market conditions and investor interest.

If completed, the issue's proceeds will be used for general corporate purposes.

The notes will be guaranteed by China Oilfield Services, which is based in Beijing and engages in the exploration, development and production of oil and natural gas operations.

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