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CNOOC prices $1.5B guaranteed note offering

China's CNOOC Ltd. announced the pricing of a $1.5 billion guaranteed note offering, according to a Sept. 25 release.

The notes will be issued by company subsidiary CNOOC Finance (2013) Ltd. and are composed of $1 billion of 2.875% guaranteed notes due 2029 and $500 million of 3.300% guaranteed notes due 2049.

The Chinese oil and gas exploration and production company expects net proceeds of $1.49 billion, which will be used for general corporate purposes.

Bank of China Ltd., BOCI Asia Ltd., Citigroup Global Markets Inc., Goldman Sachs (Asia) LLC, J.P. Morgan Securities LLC and UBS AG Hong Kong Branch are the joint global coordinators, joint lead managers and joint bookrunners for the offering.