HONG KONG, April 24, 2014 /CNW/ - CNOOC Limited (the "Company", NYSE:
CEO, SEHK: 00883, TSX: CNU) announced on April 23, 2014 (New York time)
the pricing of its offering of US$4,000 million aggregate principal
amount of guaranteed notes. The offering consists of US$1,250 million
of 1.625% guaranteed notes due 2017, US$2,250 million of 4.250%
guaranteed notes due 2024 and US$500 million of 4.875% guaranteed notes
due 2044 (collectively, the "Notes"). The Notes will be issued by CNOOC
Nexen Finance (2014) ULC, an indirect wholly-owned subsidiary of the
Company incorporated in Nova Scotia, Canada, and will be guaranteed by
the Company.
The net proceeds from this offering are expected to be approximately
US$3,963.2 million. The proceeds are intended to be used in part for
repaying all or part of a US$2.0 billion facility that was entered into
for the purpose of repaying part of the bridge loan that financed the
Company's acquisition of Nexen Inc.. The remaining proceeds, if any,
will be used for general corporate purposes.
Application has been made to The Stock Exchange of Hong Kong Limited for
listing of, and permission to deal in, the Notes by way of debt issue
to professional investors only. Listing of the Notes on The Stock
Exchange of Hong Kong Limited is not to be taken as an indication of
the merits of the Notes, the Company or CNOOC Nexen Finance (2014) ULC.
BOCI Asia Limited, Citigroup Global Markets Inc., Credit Suisse
Securities (USA) LLC, Deutsche Bank AG, Singapore Branch, Goldman Sachs
(Asia) L.L.C., J.P. Morgan Securities LLC, Morgan Stanley & Co.
International plc and UBS AG, Hong Kong Branch are the joint lead
managers and joint bookrunners for the offering.
The offering of the Notes is made pursuant to the Company's shelf
registration statement on Form F-3 (File No. 333-188261) filed with the
United States Securities and Exchange Commission (the "US SEC") on May
1, 2013, as amended by the post-effective amendment No. 1 to the
registration statement filed with the US SEC on April 22, 2014. Copies
of the prospectus supplement and the accompanying prospectus may be
obtained from Citigroup Global Markets Inc., c/o Broadridge Financial
Solutions, 1155 Long Island Avenue, Edgewood, New York 11717,
telephone: 1-800-831-9146; Credit Suisse Securities (USA) LLC, Eleven
Madison Avenue, New York, New York 10010-3629, United States of
America, telephone: 1-212-325-2000; Prospectus Group, Deutsche Bank AG,
Singapore Branch c/o Deutsche Bank Securities Inc., 60 Wall Street, New
York, NY 10005, telephone: 1-800-503-4611; Prospectus Department,
Goldman Sachs & Co, 200 West Street, New York, NY 10282, telephone:
1-866-471-2526 / 1-212-902-9316; J.P. Morgan Securities LLC, 383
Madison Avenue, New York, New York 10179, United States of America,
telephone: 1-212-834-4533; Prospectus Department, Morgan Stanley & Co.
LLC, 180 Varick Street, New York, New York 10014, telephone:
1-866-718-1649; or Fixed Income Syndicate, UBS Securities LLC, 677
Washington Boulevard, Stamford, Connecticut 06901, telephone:
1-203-719-1088 .
This press release does not constitute an offer to sell or the
solicitation of an offer to buy any of the Notes, nor will there be any
sale of the Notes in any jurisdiction in which such offer, solicitation
or sale would be unlawful.
Notes to Editors:
More information about the Company is available at http://www.cnoocltd.com.
This press release includes "forward-looking statements" within the
meaning of the United States Private Securities Litigation Reform Act
of 1995, including statements regarding expected future events,
business prospectus or financial results. The words "expect",
"anticipate", "continue", "estimate", "objective", "ongoing", "may",
"will", "project", "should", "believe", "plans", "intends" and similar
expressions are intended to identify such forward-looking statements.
These statements are based on assumptions and analyses made by the
Company in light of its experience and its perception of historical
trends, current conditions and expected future developments, as well as
other factors the Company believes are appropriate under the
circumstances. However, whether actual results and developments will
meet the expectations and predictions of the Company depends on a
number of risks and uncertainties which could cause the actual results,
performance and financial condition to differ materially from the
Company's expectations, including those associated with fluctuations in
crude oil and natural gas prices, the exploration or development
activities, the capital expenditure requirements, the business
strategy, whether the transactions entered into by the Group can
complete on schedule pursuant to its terms and timetable or at all, the
highly competitive nature of the oil and natural gas industries, the
foreign operations, environmental liabilities and compliance
requirements, and economic and political conditions in the People's
Republic of China. For a description of these and other risks and
uncertainties, please see the documents the Company files from time to
time with the United States Securities and Exchange Commission,
including the 2013 Annual Report on Form 20-F filed on April 17, 2014.
Consequently, all of the forward-looking statements made in this press
release are qualified by these cautionary statements. The Company
cannot assure that the results or developments anticipated will be
realized or, even if substantially realized, that they will have the
expected effect on the Company, its business or operations.
SOURCE CNOOC Limited
<p> </p> <p> Ms. Michelle Zhang<br/> Deputy Manager, Media / Public Relations<br/> CNOOC Limited<br/> Tel: +86-10-8452-6642<br/> Fax: +86-10-8452-1441<br/> E-mail: <a href="mailto:MR@cnooc.com.cn">MR@cnooc.com.cn</a> </p> <p> Ms. Cathy Zhang<br/> Hill+Knowlton Strategies Asia<br/> Tel: +852-2894 6211<br/> Fax: +852-2576 1990<br/> E-mail: <a href="mailto:cathy.zhang@hkstrategies.com">cathy.zhang@hkstrategies.com</a> </p>