Reuters, DUBAI, June 28 – Qatar Petroleum has recruited a group of banks to organize a four-tranche issuance of US dollar-denominated bonds, according to a document, for what will be the company’s first public bond offering months after signing a contract to increase its liquefied natural gas output. According to a document obtained by Reuters from one of the deal’s banks, the bond offering will include traditional tranches of five, ten, and twenty years, as well as a 30-year Formosa part. Foreign borrowers sell Formosa bonds in Taiwan, which are denominated in currencies other than the Taiwanese dollar. The paper did not specify the magnitude of the transaction, although sources told Reuters previously that the anticipated debt sale could raise up to $10 billion. find out more Qatar Petroleum (QP), one of the world’s largest LNG suppliers, enlisted the help of Citi and JPMorgan to manage the situation. Beginning Monday, they will host investor calls with BofA Securities (BAC.N), Deutsche Bank (DBKGn.DE), Goldman Sachs (GS.N), HSBC (HSBA.L), MUFG (8306.T), QNB Capital (QNBK.QA), and Credit Suisse (CSGN.S). QP’s funding comes as energy companies in the region look for new ways to generate funds after being hit by the double whammy of the COVID-19 outbreak and falling oil prices last year. In February, Qatar Petroleum signed a deal for the first phase of its North Field LNG expansion project, which seeks to increase Qatar’s LNG output by 40% annually by 2026. read more Yousef Saba contributed to this report. Kim Coghill and Mark Potter edited the piece. The Thomson Reuters Trust Principles are our standards. Continue reading
