China Oilfield Services COSL is the latest mainland oil and gas company to tap the international bond markets, attracting strong demand for a 10-year issue priced late on Thursday night.
COSL, the leading oilfield services provider in the offshore Chinese market, achieved a low coupon and a tight yield spread. The $1 billion debut issue was launched after a brace of Chinese oil and gas issues in the second quarter of this year.
In April, CNOOC received $17 billion of orders for a $2 billion dual-tranche issue made up of 10- and 30-year bonds. Three weeks later, Sinopec trumped that performance with a $3...
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