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China Oil & Gas Group ( (HK:0603) ) just unveiled an announcement.
China Oil & Gas Group has priced a US$300 million issuance of 7.0% senior notes due 2029, with the company and certain subsidiary guarantors signing a purchase agreement with HSBC, Morgan Stanley and UBS as joint global coordinators, joint bookrunners, joint lead managers and initial purchasers. The net proceeds will be used to fund a concurrent offer to purchase existing securities and for general corporate purposes, while in-principle approval has been secured for listing and quotation of the notes on the Singapore Exchange, underscoring the group’s continued access to international capital markets and efforts to optimize its debt structure, though no listing is being sought in Hong Kong and distribution to retail investors in the EEA and UK is restricted.
The most recent analyst rating on (HK:0603) stock is a Buy with a HK$0.18 price target. To see the full list of analyst forecasts on China Oil & Gas Group stock, see the HK:0603 Stock Forecast page.
More about China Oil & Gas Group
China Oil & Gas Group is an energy company engaged in the oil and gas sector, focusing on the development, operation and financing of projects related to hydrocarbon resources and related energy infrastructure in its core markets.
Average Trading Volume: 4,858,339
Technical Sentiment Signal: Strong Sell
Current Market Cap: HK$793.8M
For a thorough assessment of 0603 stock, go to TipRanks’ Stock Analysis page.