Tengizchevroil hits screens for five and 10 years as competitive pricing expected

By Mariam Meskin
15 Jul 2020

Tengizchevroil (TCO), the Kazakhstan crude oil company jointly owned by four international commodity companies including Chevron and ExxonMobil, launched a bond on Tuesday in search of five and 10 year funding from investors.

The senior secured RegS/144A dollar denominated bonds will have five and 10 year tranches.

TCO, rated Baa2 and BBB by Moody’s and S&P respectively, set initial price thoughts of 3.125-3.250% for the five year tranche and 3.875% area for the 10 year. The deal is expected to price later ...

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