The Republic of Congo’s SNPC is promoting its bond issuance, SNPC 6.5% Net 2024-2029, to investors in Gabon and Cameroon. With a target of $167 million and a net interest rate of 6.5%, the bond aims to finance key energy and infrastructure projects, supporting SNPC’s Performance 2025 growth plan to raise $5 billion.
The Republic of Congo’s national oil company, Société Nationale des Pétroles du Congo (SNPC), has recently engaged with investors in Douala, Cameroon, and Libreville, Gabon, to promote its public bond issuance. The bond, titled “SNPC 6.5% Net 2024-2029,” has received approval from the Central African Financial Market Supervisory Commission and is set to close on February 27, 2024. During these meetings, SNPC executives emphasized the significance of this bond issuance for expanding its investor base and securing necessary funding for pivotal projects.
As part of its Performance 2025 growth initiative, SNPC aims to raise $5 billion within the regional financial market to bolster investments in energy and infrastructure. The current bond offering, which is the first phase of this initiative, targets $167 million specifically for enhancing drilling activities and increasing national production capacity. The investment vehicle offers a competitive net annual interest rate of 6.5% with a maturity period extending to 2029.
This investment opportunity is facilitated through selected placement syndicate members, including LCB Capital, BGFI Bourse, Premium Capital Securities, Elite Capital Securities, and EDC Investment Corporation. Additionally, the inaugural Congo Economic & Investment Forum is scheduled to take place from March 24-26, 2025, in Brazzaville. This forum, under the patronage of President Denis Sassou Nguesso, aims to congregate international investors and local entities to discuss energy and infrastructure projects in the region.
The forum will highlight the latest advancements in gas-to-power initiatives and provide updates on significant ongoing projects across the country. The collaboration between national stakeholders and foreign investors is expected to further facilitate the exploration of opportunities in the Congolese energy sector, enhancing national development efforts.
In summary, SNPC’s engagement with regional investors for its bond issuance marks a critical step towards financing energy initiatives and infrastructure projects. The targeted bond offering aims to raise significant capital while paving the way for broader discussions at the upcoming Congo Economic & Investment Forum. This effort demonstrates SNPC’s commitment to expanding its investment base and developing the energy sector in the Republic of Congo.
Original Source: energycapitalpower.com
