CNOOC joins the rush with US$4b bond sale

The mainland's largest offshore energy explorer undertook a record offering of securities to replace part of a loan used to acquire Nexen, which operates in Canada's oil sands, data shows. The company paid 3 per cent to sell debt due 2023, 87.5 basis points less than a year earlier, after 10-year Treasury yields last week fell to the lowest since December. Mainland borrowers are paying an average of 45 basis points less than in 2012 for US dollar loans.

via Business feed http://www.scmp.com/business/companies/article/1231737/cnooc-joins-rush-us4b-bond-sale