Qatar Petroleum Plans Debut Greenback Public Bond Sale

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By Yousef Saba and Davide Barbuscia

The world’s prime liquefied pure fuel (LNG) provider despatched banks a request for proposals for the deliberate debt sale in the previous couple of weeks, the sources mentioned, with one among them including it’s going to possible increase billions of {dollars}.

“It is going to be an enormous deal,” the supply mentioned.

QP, which didn’t instantly reply to a request for remark, plans to vastly develop its capability in coming years.

The corporate mentioned final month it might take full possession of its Qatargas 1 LNG plant, the nation’s first, when its 25-year contract with worldwide traders together with Exxon Mobil Corp and Whole SE expires subsequent yr.

The deliberate debt sale comes as vitality corporations within the area search totally different means to boost money after they have been pummelled final yr by the double shock of the COVID-19 pandemic and oil costs collapsing.

QP final yr was job and value cuts to deal with the droop in oil and fuel demand attributable to the brand new coronavirus.

Sources informed Reuters final week Saudi Arabia’s oil large Aramco is planning to refinance a $10 billion revolving credit score facility. Additionally it is engaged on a $12.4 billion deal to monetise its oil pipelines community.

Abu Dhabi Nationwide Oil Firm (ADNOC) has accomplished related infrastructure offers that lease possession of property, elevating billions of {dollars} up to now two years.

Additionally it is planning preliminary public choices of its drilling enterprise and its three way partnership with chemical producer OCI.

QP, wholly owned by the Qatari authorities, has bought bonds by means of personal placements up to now, together with in {dollars} and in Japanese yen. It has greater than $3.25 billion in excellent loans and bonds, in line with Refinitiv information.

(Reporting by Yousef Saba and Davide Barbuscia; enhancing by David Evans)



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