Cnooc Raises $4 Billion in Biggest Asian Dollar Bond Since 2003
03 May 2013 07:24 GMT
 
Cnooc Ltd. (883), China's largest offshore energy explorer, sold $4 billion of bonds in the biggest dollar- denominated offering from Asia outside of (more)

Cnooc Ltd. (883), China's largest offshore energy explorer, sold $4 billion of bonds in the biggest dollar- denominated offering from Asia outside of Japan in more than nine years.

Investors bid for about $23.8 billion of notes, with asset managers making up the biggest buyer group for all four tenors, a person familiar with the matter said, asking not to be identified because the details are private. U.S. investors took 79 percent of the 10-year issue, the person said.

Aggregate proceeds from the fourp-art sale will be about $3.94 billion after commissions and fees, according to Cnooc estimates in a stock exchange filing dated today. A phone message left at Cnooc's Beijing office seeking comment on the sale and e-mailed questions were not immediately returned.


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