New | China Oilfields sets up EMTN Programme for flexible debt financing

China Oilfield Services Ltd, the country’s dominant oil and gas drilling services provider, said on Monday the establishment of its EMTN (euro medium term note) programme will allow it to issue notes in tranches at an aggregate principal of up to US$3.5 billion for general corporate purposes.

The EMTN programme allows the issuer to draw down notes from time to time, thus providing a platform which enhances the flexibility and efficiency of future funding and capital management, the company said in a filing to the Hong Kong Stock Exchange.

It has appointed Goldman Sachs and HSBC as arrangers. Dealers for its programme include ANZ, BOCI Asia, Citigroup, Credit Suisse, DBS, Goldman Sachs, HSBC, JP Morgan, Standard Chartered and UBS, according to the statement.