On 18 June 2020, China Oilfield Services Limited (COSL) successfully issued two tranches of senior notes worth US$800 million in total and in S format: the first tranche is due in five years and carries an annual interest rate of 1.875%, and the second 10 years and 2.500%, with the final cost-benefit ratios being 1.903% and 2.604% respectively.

This issuance has the lowest integrated cost and highest oversubscription multiple in COSL’s history of issuing USD-denominated notes. 

This USD-denominated notes issuance will further optimise COSL’s debt structure and lower its weighted average financing cost, beneficial to the company’s long-term stable development. This has not only effectively consolidated COSL’s image as a high-quality development brand in the capital market, but also laid a solid foundation for its future operations in the overseas capital market, providing more flexibility and choices. All these will help the company’s high-quality development.