The SNPC has announced a public bond offering, SNPC 6.5% Net 2024-2029, to enhance its funding for key projects, aiming to raise $5 billion by 2025. The bond will close on February 27, 2024, offering a 6.5% annual interest rate with a five-year maturity. A major investment forum will be held in Brazzaville in 2025 to further explore regional energy opportunities.
The Société Nationale des Pétroles du Congo (SNPC), the Republic of Congo’s parastatal oil company, has engaged with investors in Douala, Cameroon, and Libreville, Gabon. The meetings aimed to present its public bond offering titled SNPC 6.5% Net 2024-2029 and attract regional investment. This bond, approved by the Central African Financial Market Supervisory Commission, will close its offering on February 27 and seeks to expand SNPC’s investor base.
Aligned with its Performance 2025 growth strategy, SNPC targets raising $5 billion from the regional market to fund energy and infrastructure projects. The current bond issue aims to secure $167 million for drilling endeavors designed to enhance national oil production capacity. The bond, featuring a net annual interest rate of 6.5% and a five-year maturity, can be acquired via several syndicate members including LCB Capital and BGFI Bourse.
Furthermore, the inaugural Congo Economic & Investment Forum is scheduled for March 24-26, 2025, in Brazzaville, under the leadership of President Denis Sassou Nguesso, with backing from the Ministry of Hydrocarbons and SNPC. This event will convene international investors and local stakeholders to explore regional energy and infrastructure opportunities. Focus areas will include advancements in gas-to-power projects and updates on key expansion efforts within the country.
In summary, the SNPC’s bond issuance is pivotal for its growth and investment strategy, targeting an ambitious $5 billion to enhance its capabilities. The upcoming Economic & Investment Forum also highlights the commitment to fostering regional collaboration in energy and infrastructure, presenting valuable prospects for stakeholders.
Original Source: energycapitalpower.com
