The Société Nationale des Pétroles du Congo (SNPC) is engaging investors in Gabon and Cameroon for its public bond offering titled SNPC 6.5% Net 2024-2029, aiming to raise $167 million as part of a larger $5 billion strategy to fund energy and infrastructure projects. The bond issuance is set to close on February 27, and an accompanying Congo Economic & Investment Forum is scheduled for March 2025 to explore further investment opportunities.
The Société Nationale des Pétroles du Congo (SNPC), the Republic of Congo’s state-owned oil company, recently engaged with investors in Douala, Cameroon, and Libreville, Gabon, to discuss its public bond offering. These efforts aim to encourage local and regional participation in the bond issuance, which has been designated as the SNPC 6.5% Net 2024-2029. Approved by the Central African Financial Market Supervisory Commission, the offering is set to close on February 27, 2023.
SNPC executives emphasized the strategic necessity of this bond issuance in enhancing the company’s investor portfolio and acquiring funds for significant projects. Within the framework of its Performance 2025 growth plan, SNPC is targeting to raise $5 billion through the regional financial market to bolster investments in energy and infrastructure, with this initial offering aiming to secure $167 million to support drilling operations and amplify national oil production.
The bond features an attractive 6.5% net annual interest rate and has a five-year maturity period extending until 2029. Interested investors can access the bond through various syndicate placement members, including LCB Capital, BGFI Bourse, Premium Capital Securities, Elite Capital Securities, and EDC Investment Corporation.
Additionally, the inaugural Congo Economic & Investment Forum, scheduled for March 24-26, 2025, in Brazzaville, will assemble international investors and local stakeholders. This event, backed by President Denis Sassou Nguesso, aims to showcase national and regional energy and infrastructure opportunities, particularly focusing on developments related to gas-to-power projects and updates on existing expansions across the Republic of Congo.
In summary, the Société Nationale des Pétroles du Congo is actively seeking regional investor engagement through its public bond offering. With a clear financial strategy targeted at raising significant capital for energy and infrastructure investments, the bond issuance represents a crucial step in enhancing the company’s operational capabilities. Furthermore, the upcoming Congo Economic & Investment Forum demonstrates SNPC’s commitment to fostering collaborations and highlighting investment opportunities within the region.
Original Source: energycapitalpower.com
