US investors drive pricing on $4 billion Cnooc bond

Cnooc prices its first SEC-registered deal, printing through its curve and attracting strong demand from US investors.

US investors drive pricing on $4 billion Cnooc bond

China National Offshore Oil Cnooc, the mainland’s third-biggest oil and gas company, closed the largest dollar bond from an Asian borrower in a decade early Friday morning.

The $4 billion multi-tranche deal out-sized Sinopec’s recent $3.5 billion bond, which printed just two weeks ago, and was also the biggest dollar bond to be issued by a Chinese state-owned enterprise.

China has a thirst for natural resources and energy assets, and companies...

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