Sidley Austin has advised China National Offshore Oil Corp. on a $2 billion bond issue.
Proceeds from the transaction, which will be divided into a $1.3 billion dollar-denominated tranche and a $700 million euro-denominated tranche, will be used to finance state-owned CNOOC’s $1.93 billion acquisition of the Queensland Curtis liquefied natural gas project in Australia. That deal, announced by CNOOC in May, will be completed by the end of the year.
Hong Kong partner Matthew Sheridan led a Sidley team on the deal that also included Hong Kong partner Janney Chong and foreign legal consultant Renee Xiong.
Allen & Overy acted for global financial advisors BOCI Asia Limited, Goldman Sachs (Asia) L.L.C., J.P.Morgan Securities plc, UBS AG, Hong Kong Branch, with Jun He Law Offices serving as Chinese counsel.