PetroChina sells US$250m bonds
24 October 2006
PetroChina, the mainland's largest oil producer, began selling US$250 million in bonds Monday to fund production expansion and build gas pipelines, the South China Morning Post reported, citing a company statement carried in the official Shanghai Securities News. The five-year, yuan-denominated bonds will carry a 3.76% coupon in a sale arranged by BOC International (China) and China Securities. Proceeds will go towards eight projects, including expanding production at the Daqing, Jilin and Changqing oilfields and building gas pipelines and chemicals projects that involve a combined investment of US$4.45 billion, PetroChina said.
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