GC
Slick return for China Oil & Gas with 11x covered bond
Piped gas operator China Oil and Gas Group made a memorable return to the debt market on November 3 with a $300m-capped bond that was more than 11 times subscribed. With such a huge order book, the issuer was able to take advantage to price through its existing dollar curve.
A fairly new issuer, China Oil and Gas made its debut in April 2013 when it raised $350m with a 5.25% five year trade that was arranged by Deutsche Bank and Morgan Stanley.
The company has stayed away from the debt market ever since that bond, although it ...Already a subscriber? Login
