China National Petroleum Corp. is looking to raise $3.1 billion through a note sale, The Wall Street Journal reports. The notes, which will be sold on the domestic interbank market, will mature in 2021.
The oil company will utilize the proceeds to fund China’s West-East gas transmission project and to boost working capital. China Galaxy Securities Co. will be the main underwriter for the offering.
Click here for the story from The Wall Street Journal.