Dong nails $1.16bn bond issue

Sterling performance: Dong raises over $1bn through London bond issue

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By Eoin O'Cinneide

 05 January 2012 16:39 GMT

Dong Energy has tied up an over $1 billion bond issue which the company said is to be used for "general corporate purposes".

The Danish oil giant revealed on Thursday afternoon that it had issued the £750 million ($1.16 billion) bond under its existing debt issuance programme.

The bond has a term of 20 years with a coupon of 4.875%.

Dong said there was “significant demand” for the bond which was “several times oversubscribed”.

BNP Paribas, Morgan Stanley and RBS were the joint bookrunners in the deal which is the second bond Dong has issued in the sterling market.

Chief financial officer Carsten Krogsgaard said: “The obtained financing goes hand in hand with our increased presence in the…

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