Shell launches rare issue; central banks, Swiss buy
Article Abstract:
Royal Dutch/Shell's rare offering, which consists of a $500-million five-year issue, was the main highlight during a hectic Eurobond issuance session. Central banks and Swiss investors were the heavy buyers of the five-year bonds. Underwriters said the day's biggest offering of $1 billion of five-year bonds strongly appealed to central banks who traditionally veer towards triple-A rated investments. The bonds were issued for German-guaranteed Kreditanstalt Fuer Wiederaufbau (KfW), which had that rating. Meanwhile, Swiss investors were a bigger number than their peers from other countries during the Shell issue.
Comment:
A rare offering, which consists of a $500-million five-year issue, was the main highlight during a hectic Eurobond issuance
Publication Name: Wall Street Journal. Europe
Subject: Business, international
ISSN: 0921-9986
Year: 1998
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Lukoil crude exports up 40% this year
Article Abstract:
OAO Lukoil, the largest oil producer in Russia, reported 18.6 million metric tons in overall crude exports for the first nine months of 1998, an increase of 40% from 13.3 million metric tons in the same year-ago period. Crude production for the first three quarters of 1998 was up 2.3% to 47.4 million metric tons from 46.38 million metric tons in the first three quarters of 1997. However, Lukoil reported a 47% drop in overall exports of oil products for the first nine months of 1998, to 2.75 million metric tons from 5.15 million metric tons in the same period in 1997.
Comment:
Reports 18.6 mil metric tons in overall crude exports for the 1st 9 months of 1998, an increase of 40% from 13.3 mil in 1997
Publication Name: Wall Street Journal. Europe
Subject: Business, international
ISSN: 0921-9986
Year: 1998
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Placement pricing hurts Repsol's shares
Article Abstract:
Repsol SA saw its share value fall by 0.8% on July 7, 1999 after the oil and energy group established the price for its major placement. Repsol's retail tranche and institutional tranche shares still have a discounted price on the market in spite of the decline in share value. According to traders, the majority of market professionals will sell off Repsol stock so long as they stay above these levels.
Publication Name: Wall Street Journal. Europe
Subject: Business, international
ISSN: 0921-9986
Year: 1999
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