Business
Last updated at: (Beijing Time) Saturday, May 17, 2003
CNOOC Issues US$500 Million Bonds in US
CNOOC Ltd., the internationally listed subsidiary of China National Offshore Oil Corporation, has successfully issued bonds worth 500 million US dollars.
The issue comprises 200 million US dollars worth of bonds to mature in 2013 and 300 million US dollars for 2033. The latter is the longest bond term ever offered by a Chinese company in the US capital market.
CNOOC Ltd, which floated the initial public offering overseas in February 2001, said the net proceeds of the bond offer would beused for general corporate purposes.
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