Qatar Petroleum Hires Banks for Jumbo Bond Sale

Yousef Saba
Monday, June 28, 2021

Qatar Petroleum has hired a group of banks to arrange a four-tranche issuance of U.S. dollar-denominated bonds, a document showed, for what will be its debut public bond sale months after it signed a contract to boost its liquefied natural gas output.

The bond sale will comprise conventional tranches of five, 10 and 20 years, as well a 30-year Formosa portion, the document from one of the banks on the deal and reviewed by Reuters showed.

Formosa bonds are sold in Taiwan by foreign borrowers and denominated in currencies other than the Taiwanese dollar.

The document did not give any indication on the size of the deal but sources have previously told Reuters the planned debt sale could raise up to $10 billion.

Qatar Petroleum (QP), one of the world's top liquefied natural gas (LNG) suppliers, hired Citi and JPMorgan to coordinate the issue.

They, along with BofA Securities, Deutsche Bank, Goldman Sachs, HSBC, MUFG, QNB Capital and Credit Suisse, will arrange investor calls starting on Monday.

QP's fundraising comes as energy companies in the region seek different means to raise cash after they were hurt last year by the double shock of the COVID-19 pandemic and oil prices collapsing.

QP signed a contract in February for the first phase of its North Field LNG expansion project, which aims to boost Qatar's LNG output by 40% a year by 2026. 

(Reporting by Yousef Saba Editing by Kim Coghill and Mark Potter)

Categories: Finance Middle East Gas

Related Stories

Sapura Energy Nets $22.6M in Offshore Support Vessel Contracts

Pakistan’s OGDC to Start Production at ADNOC’s Offshore Block by 2027

‘Ultra-Mega’ Offshore Deal for L&T at QatarEnergy LNG’s North Field Gas Scheme

Keel Laying for Wind Flyer Trimaran Crew Boat

ADNOC Signs 15-Year LNG Supply Deal with Osaka Gas for Ruwais Project

Abu Dhabi's NMDC Group Gets $1.1B Subsea Gas Pipeline Job in Taiwan

BP Targets 44% Oil, 89% Gas Increase from India’s Mumbai High Field

US Operator Finds Oil Offshore Vietnam

Vestas Lands First 15MW Offshore Wind Turbine Order in Asia Pacific

Flare Gas Recovery Meets the Future

Current News

Chuditch Gas Field Up for Summer Drilling Ops as Sunda Reshapes Ownership Structure

EnQuest Bags Two Production Sharing Contracts off Indonesia

Hanwha Drilling’s Tidal Action Drillship En Route to Petrobras’ Roncador Field

China's ENN, Zhenhua Oil Ink LNG Supply Deals with ADNOC

MODEC Wins ExxonMobil Guyana’s Hammerhead FPSO Contract

India Stretches Bids Deadline for 13 Offshore Deep-Sea Mineral Blocks

Indonesia Awards Oil and Gas Blocks to Boost Reserves

Sapura Energy Nets $22.6M in Offshore Support Vessel Contracts

CNOOC Puts Into Production New Oil Field in South China Sea

Sunda Energy Starts Environmental Consultation for Chuditch-2 Well Drilling Plans

Subscribe for AOG Digital E‑News

AOG Digital E-News is the subsea industry's largest circulation and most authoritative ENews Service, delivered to your Email three times per week

https://accounts.newwavemedia.com