Deals this week: BPCL, Cheniere Energy, Origin Energy


Bharat Petroleum Corporation Limited (BPCL) intends to raise approximately $500m through the issue of bonds.

Proceeds from the issue will be used by the company to fund its capital expenditure.

The offering is scheduled for completion by mid-November.

Cheniere Energy Partners LP has priced its proposed 5.25% senior notes due 1 October 2025.

The company intends to raise $1.5bn through the offering, and will use the proceeds to reduce Cheniere Energy‘s indebtedness under its credit facilities.

The issue is scheduled for closure on 18 September 2017.

Origin Energy Limited has agreed to acquire an additional interest in Otway Gas Project and Exploration Joint Ventures in Victoria, Australia, from Benaris International Pty Ltd and Benaris Exploration (Otway) Pty Ltd (together Benaris) for a purchase consideration of $152.99m.

The transaction will involve the acquisition of an additional 27.77% interest in Otway Gas Project from Benaris International, as well as 29.23% stake in the T/30P Exploration Joint Venture and VIC/P43 Exploration Joint Venture from Benaris Exploration.

"Gazprom and Botas Petroleum Pipeline Corporation have announced plans to form a new joint venture, which will be named TurkAkim Gaz Tasima."

The Otway Gas Project comprises Thylacine and Geographe offshore gas fields, and the proved, probable and possible reserves of the development are estimated to be 87.2bcf of natural gas.

Lattice Energy will own the complete stake in T/30P upon completion of the transaction, while the Otway Gas Project will be jointly owned by Lattice Energy (95%) and Toyota (5%).

Gazprom and Botas Petroleum Pipeline Corporation have announced plans to form a new joint venture, which will be named TurkAkim Gaz Tasima.

TurkAkim Gaz will be engaged in the construction of the onshore section of the TurkStream natural gas project to transport gas to Turkey.

Concho Resources Inc intends to raise $800m via the issue of 4.875% senior unsecured notes due 2047.

Merrill Lynch, Pierce, Fenner & Smith Incorporated, Barclays Capital In. and Citigroup Global Markets Inc have been appointed as the joint book running managers for the offering.

The proceeds from the issue are expected to be used by the company to fund the redemption of outstanding debt.

The offering is scheduled for closure on 26 September 2017.