Santos Successfully Prices US$800m 10-Year Reg-S Bond Offering

Source: www.gulfoilandgas.com 9/8/2017, Location: North America

Santos has priced a US$800 million senior unsecured fixed rate bond transaction in the US Dollar Regulation S market. The bonds will be issued by Santos Finance Limited, a wholly owned subsidiary of Santos Limited, off the Company’s Euro Medium Term Note Programme (EMTN Programme), dated 30 August 2017. The bonds will be guaranteed by Santos Limited.

The bonds have been priced at a fixed coupon of 4.125%, for a period of 10-years, maturing on 14 September 2027. The book was six times oversubscribed and received strong support from a mix of global asset managers and insurance companies from Asia, Australia and Europe.

The use of proceeds from the bonds will include general corporate purposes and debt refinancing.

Santos Managing Director and Chief Executive Officer Kevin Gallagher said the offering is consistent with the company’s strategy of securing very competitively priced long term capital.

“This is an excellent result for Santos, showing strong support from the capital markets. The bonds will replace the existing Euro hybrid notes with more efficient long-term debt funding, leading to significant annual interest cost savings and a further reduction in the company’s forecast free cash flow breakeven oil price,” Mr Gallagher said.

“The company’s focus remains on debt reduction and we are on track to achieve our target of US$2 billion in net debt by end of 2019.”

Settlement of the bonds is expected to occur on 14 September 2017 and is subject to customary closing conditions.

Joint Lead Managers on the transaction are Citigroup and Deutsche Bank.


Canada >>  6/27/2022 - Imperial Oil Limited (IMO) announced that it has received final acceptance from the Toronto Stock Exchange (TSX) for a normal course issuer bid (NCIB)...
China >>  6/27/2022 - Ncondezi Energy Limited ("Ncondezi") (NCCL) is pleased to announce its audited final results for the year ended 31 December 2021.

...


France >>  6/27/2022 - As part of its remuneration policy, Bureau Veritas grants options to subscribe or to purchase shares (“Options”) and Performance shares (“Shares”) to ...
Greece >>  6/27/2022 - Seanergy Maritime Holdings Corp. announced that the application of United Maritime Corporation (“United”) to list its common shares on the Nasdaq Capi...

Nigeria >>  6/27/2022 - LEKOIL, the Cayman Islands litigation asset company with an investment in oil & gas assets in Nigeria, provides the following update in respect of the...
Tanzania >>  6/27/2022 - Wentworth Resources, the independent, Tanzania-focused natural gas production company is pleased to make the following announcement.

The ...


Related Categories: Accounting, Statistics  Acquisitions and Divestitures  Asset Portfolio Management  Economics/Financial Analysis  General  Industrial Development  Insurance  Investment  Mergers and Acquisitions  Risk Management 

Related Articles: Accounting, Statistics  Acquisitions and Divestitures  Asset Portfolio Management  Economics/Financial Analysis  General  Industrial Development  Insurance  Investment  Mergers and Acquisitions  Risk Management 


Gulf Oil and Gas
Copyright © 2021 Universal Solutions All rights reserved. - Terms of Service - Privacy Policy.