15 October, 2013

 

HONG KONG:  Allen & Overy has advised the Joint Global Coordinators, Joint Lead Managers, Joint Bookrunners and Co-Managers on CNOOC Curtis Funding No. 1 Pty Ltd’s concurrent offering of USD and Euro-denominated Notes guaranteed by China National Offshore Oil Corporation (CNOOC).

 

The Rule 144A/Regulation S USD1.3 billion 4.50% Senior Notes due 2023 are the first to feature a full guarantee from China and are the first to be eligible for listing in the Emerging Market Bond Index.

 

The Regulation S EUR500 million 2.75% Senior Notes due 2020 represent CNOOC’s inaugural Euro-denominated debt issuance.

 

Commenting on the deal, David Kuo said: “We were delighted to be involved in this transaction as it provided us the opportunity to highlight our capabilities in Greater China, as well as our ability to execute complex multi-jurisdictional securities transactions.”

 

BOCI Asia Limited, Goldman Sachs (Asia) L.L.C., J.P. Morgan Securities plc and UBS AG, Hong Kong Branch were Joint Global Coordinators for both the USD and Euro offerings.

 

BOCI Asia Limited, Goldman Sachs (Asia) L.L.C., J.P. Morgan Securities plc and UBS AG, Hong Kong Branch, together with ICBC International Securities Limited, CCB International Capital Limited, ABCI Capital Limited and BOCOM International Securities Limited acted as Joint Lead Managers and Joint Bookrunners for the Rule 144A/Regulation S USD1.3 billion 4.50% Senior Notes due 2023. Australia and New Zealand Banking Group Limited and Mizuho Securities USA Inc. acted as Co-Managers.

 

BOCI Asia Limited, Goldman Sachs (Asia) L.L.C., J.P. Morgan Securities plc and UBS AG, Hong Kong Branch, together with Barclays Bank PLC, Citigroup Global Markets Limited, Credit Suisse Securities (Europe) Limited and The Hongkong and Shanghai Banking Corporation Limited were Joint Lead Managers and Joint Bookrunners for the Regulation S EUR500 million 2.75% Senior Notes due 2020. Australia and New Zealand Banking Group Limited and Mizuho International plc acted as Co-Managers.

 

The Allen & Overy team was led by partners James Grandolfo and David Kuo in Hong Kong, supported by consultant Buxian Xia and associates Emily Dong and Marcus Eldridge.

 

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