CNOOC seeks $3bn for Aussie acquisition

By Rashmi Kumar
30 Aug 2013

China National Offshore Oil Corp is speaking to banks about raising $3bn of debt, just six months after it borrowed $6bn through a loan.

The new self-arranged financing is split between a $2bn one year tranche and a $1bn five year portion, according to a banker.

CNOOC is predominantly speaking to relationship lenders to provide the financing.

The state-owned energy explorer will use the loan to fund its recent acquisition in Australia, ...

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