New Issue: China Oilfield Services sells $500 million 4½% notes due 2025 at 99.388

By Marisa Wong

Madison, Wis., July 24 – China Oilfield Services Ltd. priced $500 million of 10-year notes (//A) at 99.388 with a 4½% coupon, according to a company announcement.

The notes are being issued by indirect wholly owned subsidiary COSL Singapore Capital Ltd. under its recently established $3.5 billion euro medium-term note program. China Oilfield Services is guarantor.

The joint lead managers are BOCI Asia Ltd., Goldman Sachs (Asia) LLC, Hongkong and Shanghai Banking Corp. Ltd., Australia and New Zealand Banking Group Ltd., Citigroup Global Markets Ltd., Credit Suisse Securities (Europe) Ltd., DBS Bank Ltd., J.P. Morgan Securities plc, Standard Chartered Bank and UBS AG, Hong Kong Branch.

Proceeds will be used for debt repayment and general corporate purposes.

The oilfield services company is based in Beijing.

Issuer:	COSL Singapore Capital Ltd.
Guarantor:	China Oilfield Services Ltd.
Issue:	Medium-term notes
Amount:	$500 million
Maturity date:	July 30, 2025
Coupon:	4½%
Price:	99.388
Lead managers:	BOCI Asia Ltd., Goldman Sachs (Asia) LLC, Hongkong and Shanghai Banking Corp. Ltd., Australia and New Zealand Banking Group Ltd., Citigroup Global Markets Ltd., Credit Suisse Securities (Europe) Ltd., DBS Bank Ltd., J.P. Morgan Securities plc, Standard Chartered Bank and UBS AG, Hong Kong Branch
Pricing date:	July 23
Settlement date:	July 30
Rating:	Fitch: A

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