Bloomberg: Cnooc to Seek $5B Of Offshore Debt for Nexen Deal

Cnooc Ltd. is seeking approximately $5 billion in offshore financing from foreign banks to fund its acquisition of Canada's Nexen Inc., Bloomberg news reported Tuesday on its website, citing two unnamed people familiar with the matter.

Cnooc is considering a bridge loan as well as longer-term financing of three or five years, the people said in the report.

"We intend to fund the purchase price from existing cash resources and external financing," a Beijing-based Cnooc spokesman said via email yesterday, the report said.

Click here for the full story.

Copyright (c) 2012 Dow Jones & Company, Inc.

WHAT DO YOU THINK?

Click on the button below to add a comment.
Post a Comment
Generated by readers, the comments included herein do not reflect the views and opinions of Rigzone. All comments are subject to editorial review. Off-topic, inappropriate or insulting comments will be removed.

Related Companies
Events  SUBSCRIBE TO OUR NEWSLETTER

Our Privacy Pledge
SUBSCRIBE



Most Popular Articles

From the Career Center
Jobs that may interest you
Location Manager I - Saybolt
Expertise: Business Development|Facilities Management|Surveying
Location: Texas City, TX
 
Legal Assistant
Expertise: Legal
Location: San Ramon, CA
 
Paralegal
Expertise: Legal
Location: Houston, TX
 
search for more jobs

Brent Crude Oil : $55.47/BBL 0.69%
Light Crude Oil : $52.48/BBL 0.30%
Natural Gas : $3.41/MMBtu 0.29%
Updated in last 24 hours