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.