Congo’s SNPC has met with investors in Gabon and Cameroon to promote its bond offering, SNPC 6.5% Net 2024-2029, which has been approved for sale until February 27. The company aims to raise $5 billion for energy and infrastructure projects, with an initial target of $167 million. An upcoming forum will discuss further investment opportunities in the sector.
The Republic of Congo’s Société Nationale des Pétroles du Congo (SNPC) has actively engaged with investors in Douala, Cameroon, and Libreville, Gabon. The purpose of these meetings was to outline the objectives of its public bond offering, inviting regional investors to participate in this initiative.
The bond, identified as SNPC 6.5% Net 2024-2029, has received approval from the Central African Financial Market Supervisory Commission and is scheduled to close its offering on February 27. During these investor meetings, SNPC executives underscored the importance of this issuance in broadening the company’s investor base and securing necessary financing for strategic projects.
As part of its Performance 2025 growth strategy, SNPC aims to raise $5 billion through the regional financial market. This financial endeavor seeks to facilitate investments in both energy and infrastructure. The current bond offering represents an initial phase, with a target of $167 million allocated to support drilling activities and enhance national production capacity.
The bond is positioned with a 6.5% net annual interest rate and a maturity period extending to 2029. It is available through a syndicate of placement members, which includes reputable firms such as 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. Under the guidance of President Denis Sassou Nguesso and in collaboration with the Ministry of Hydrocarbons and the Société Nationale des Pétroles du Congo, this forum will unite international investors and local stakeholders to discuss national energy and infrastructure projects. Topics will include developments in gas-to-power initiatives and updates on ongoing national expansions.
In conclusion, SNPC is proactively engaging with investors to support its bond issuance aimed at enhancing its financial base for critical investments in the energy and infrastructure sectors. The bond offering is part of a broader strategy to secure substantial funding, and the upcoming Congo Economic & Investment Forum promises to further highlight opportunities in the region.
Original Source: energycapitalpower.com
