Appleby acted as BVI Counsel for CNPC Finance (HK) Limited, a subsidiary of China National Petroleum Corporation (CNPC), in relation to the issuance of US$750 million Guaranteed Senior Floating Rate Notes due 2017 and US$750 million 2.75% Guaranteed Senior Notes due 2019. The net proceeds from the notes issuance will be used for CNPC’s overseas operations.

The Appleby team was led by Judy Lee, a corporate partner in the Hong Kong office, who was assisted by senior associate Chris Cheng. Shearman & Sterling acted for CNPC Finance (HK) Limited as its US and Hong Kong lawyers and Ju He Law Offices acted for the company as its PRC lawyer. Davis Polk & Wardwell and King & Wood Mallesons acted for the Initial Purchasers as their US and PRC lawyers, respectively.

CNPC is China’s largest oil and gas producer and supplier based on production and sales volume. CNPC has developed into one of the world’s leading integrated international energy companies, a major international oilfield and engineering services provider and a globally reputable contractor in oil engineering and construction.

For further information please contact Sarah Stone.

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