Appleby advises China Oil and Gas Group Limited on USD300 million note issuance
Appleby is pleased to announce that it acted as Bermuda and BVI counsels to China Oil and Gas Group Limited (the Company, together with its subsidiaries, the Group) in connection with its issuance of USD300 million senior notes bearing interest at 7% per annum and due in February 2029 (the Notes). The Notes are listed on the Singapore Exchange Securities Trading Limited.
Appleby also advised the Company in relation to its tender offer to eligible holders of its outstanding USD361 million 4.7% senior notes due 2026 (the 2021 Notes) for purchase for cash. The 2021 Notes were listed on the Singapore Exchange Securities Trading Limited.
The net proceeds of the Notes were used to fund the concurrent offer to purchase of the outstanding 2021 Notes maturing in 2026 and for general corporate purposes.
The transaction was led by Judy Lee, Partner in Appleby’s Hong Kong office.
The Group is a national piped gas operator in China, focused on the midstream and downstream natural gas markets. It operates an extensive portfolio of natural gas branch pipelines and city‑gas distribution networks, as well as LNG processing facilities, transportation and distribution businesses, and related infrastructure across a wide geographic area in China.
