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

One Shelf Drilling Rig Up for New Job in India, Other for Disposal

Thailand's PTT to Buy LNG from Glenfarne's Alaska LNG Project

Petronas Expands Suriname Portfolio with Deepwater Block Acquisition

Yinson Production Closes $1B Investment to Drive Further Growth

Petronas-Eni Upstream Joint Venture to Take Up to Two Years to Set Up

UK Firm Secures Exploration Extension for Two Blocks off Vietnam

ABL Lands Work on BP’s Indonesian Gas and CCUS Project

CNOOC Starts Production at Offshore Field in South China Sea

MODEC, Carbon Clean to Advance FPSO-Mounted Carbon Capture Tech

OMV Exits Ghasha Gas Project off UAE with Lukoil Stake Sale

Current News

One Shelf Drilling Rig Up for New Job in India, Other for Disposal

Four Jack-Up Drilling Rig Deals Set to Bring In $129M for Borr Drilling

PTTEP Hires Velesto’s Jack-Up Rig for Drilling Campaign off Malaysia

Yinson Production Secures $1.17B Refinancing for FPSO Maria Quitéria

Centrica and Thailand’s PTT Ink Long-Term LNG Supply Deal

Petrovietnam, Partners Sign PSC for Block Off Vietnam

Japan Protests China’s New Oil and Gas Construction Activities in East China Sea

CNOOC Signs Hydrocarbons Exploration and Production Deal with Kazakhstan

Thailand's PTT to Buy LNG from Glenfarne's Alaska LNG Project

Woodside and Jera Agree LNG Cargoes Supply for Japan’s Winter Period

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