By Sarah Lizee
Olympia, Wash., Nov. 4 – China Oil and Gas Group Ltd. priced $30 million more 5½% senior notes due Jan. 25, 2023 at 102, according to a notice.
The additional notes will be consolidated and form a single class with the $320 million of notes that were issued at 99.373 on July 25.
Deutsche Bank AG, Singapore Branch and Morgan Stanley & Co. International plc were the bookrunners for the Regulation S deal.
The notes are callable in whole at par plus an applicable premium for the first two years. After two years, they are callable in whole or in part at 102.75. The price steps down to 101.375 on July 25, 2022. The company also has an equity clawback option for up to 35% of the notes at 105.5 until July 25, 2021.
Hong Kong-based China Oil and Gas invests in natural gas and energy-related businesses.
| Issuer: | China Oil and Gas Group Ltd.
|
| Amount: | $30 million
|
| Maturity: | Jan. 25, 2023
|
| Description: | Senior notes add-on
|
| Bookrunners: | Deutsche Bank AG, Singapore Branch and Morgan Stanley & Co. International plc
|
| Coupon: | 5½%
|
| Price: | 102
|
| Call option: | In whole at par plus an applicable premium through July 25, 2021; on or after July 25, 2021 at 102.75; after July 25, 2022 at 101.375
|
| Equity clawback: | For up to 35% of notes at 105.5 until July 25, 2021
|
| Trade date: | Oct. 28
|
| Settlement date: | Oct. 31
|
| Distribution: | Regulation S
|
| Total issuance: | $350 million, including $320 million issued on July 25 at 99.373
|
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