China National Offshore Oil Corporation (CNOOC) $2 billion bond issue

Overview:

• China National Offshore Oil Corporation (CNOOC) has undertaken a $2 billion issue of bonds.
• CNOOC has established an Australian special purpose company which issued four tranches of bonds to the public in the US. 
• China National Offshore Oil Corporation is the third largest national oil company in China and China's largest producer of offshore crude oil and natural gas.
• It is one of the largest independent oil and gas exploration and production companies in the world. 
• The proceeds of the issuance were on lent to the Australian group and offshore sister companies for general corporate purposes.

Katrin Kostadinova - Data analyst