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