Qatar Petroleum Energy Company has ended the largest sale of bonds in emerging markets this year, with $ 12.5 billion dollar bonds under its pursuit of liquefied natural gas production and strengthening its dominance on the market.
According to Arab Net, the company sold four segments for ages 5, 10, 20 and 30 years. The last sale of bonds for the company was in 2006, when they collected $ 650 million, according to data collected by Bloomberg.
Investors put orders about $ 40 billion, according to a person familiar with.
The company's debt will help pump more gas from the Giant North Field, where Qatar plans to spend $ 29 billion to raise liquefied natural gas production to 110 million tonnes per year by 2027 from 77 million tons.
Qatar Petroleum received offers from companies such as Royal Dutch Shell PLC, Totalenergies SE and Exxon Mobil Corp to participate in financing expansion. The company has already begun and said CEO Saad al-Kaabi said it could continue to finance the project on its own.
The bonds come at a time when natural gas prices jumped in Europe - the home of some of the largest buyers from Qatar - to its highest level for nearly 13 years amid the global supplies crisis. Qatar depends on the growing demand for fuel amid efforts in Europe and Asia to reduce coal dependence, where facilities are turned into a cleaner cleaner in an attempt to reduce carbon emissions.
Needs of capital expenditure for Qatar oil is about $ 59 billion in the next five years, according to the subscription briefed by Bloomberg. Has made profits after tax deducted at $ 5 billion in the first quarter. This was an increase of $ 3.6 billion a year ago, with the reopening of major economies from Corona virus pandemic to raise energy prices.
Citigroup and JP Morgan have been a global coordinator for the deal, and managed the subtraction of Bank of America, the Credit Suisse Group, Deutsche Bank, Goldman Sachs, HSBC Holdings, Mitsubishi UFG Financial Group and Qatar National Bank. / p>
