Santos prices US$600m 10-year Reg-S bond

Company News

by Rachael Jones

Leading oil and gas producer Santos (ASX:STO) has priced a US$600 million senior unsecured fixed rate bond transaction in the US$ Regulation S market.

The bonds will be issued by Santos Finance, a wholly owned subsidiary of Santos, off the Company’s Euro Medium Term Note Programme (EMTN Programme).

The bonds will be guaranteed by Santos Limited.

They have been priced at a fixed coupon of 5.25 per cent, for a period of 10 years, maturing on 13 March 2029.

The book was approximately five times oversubscribed and received strong support from a mix of global asset managers and insurance companies from Asia, Australia and Europe.

The use of proceeds from the bonds will include refinancing the US$500 million bridge facility used to part-fund the Quadrant Energy acquisition and general corporate purposes.

Shares in Santos (ASX:STO) are trading flat at $7.11.

Rachael Jones

Finance News Network
Rachael comes to FNN after working for Fairfax Media covering international breaking news, including the global economy and politics. She joined FNN in February 2018. She has reported on Australia’s finance news for various organisations since 2000 and has also interviewed a number of key business players, including Bill Gates. Rachael has also worked across a number of countries, including the UK and the US.