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

Adobe_oil_575x375_08March2020
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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