Published on 8/30/2012 in the Prospect News Emerging Markets Daily and Prospect News Investment Grade Daily.
New Issue: China Oilfield prices $1 billion 3¼% notes due 2022 at 170 bps over Treasuries
By Aleesia Forni
Columbus, Ohio, Aug. 30 - China Oilfield Services Ltd. subsidiary COSL Finance (BVI) Ltd. priced a $1 billion issue of 3¼% 10-year notes at a spread of 170 basis points over Treasuries, according to a syndicate source.
The notes priced at 99.341 to yield 3.328%.
Citigroup, UBS, HSBC, China Merchants Bank, Credit Suisse, DBS, BOCI, Deutsche Bank, Goldman Sachs, JPMorgan and ICBCI were the joint bookrunners.
China Oilfield Services is based in Beijing and engages in the exploration, development and production of oil and natural gas operations.
| Issuer: | COSL Finance (BVI) Ltd.
|
| Guarantor: | China Oilfield Services Ltd.
|
| Issue: | Notes
|
| Amount: | $1 billion
|
| Maturity: | Sept. 6, 2022
|
| Bookrunners: | Citigroup, UBS, HSBC, China Merchants Bank, Credit Suisse, DBS, BOCI, Deutsche Bank, Goldman Sachs, JPMorgan, ICBCI
|
| Coupon: | 3¼%
|
| Price: | 99.341
|
| Yield: | 3.328%
|
| Spread: | Treasuries plus 170 bps
|
| Trade date: | Aug. 30
|
| Settlement date: | Sept. 6
|
| Distribution: | Regulation S, Rule 144A
|
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