Congo’s SNPC Engages Investors for Critical Bond Issuance

Congo’s SNPC has engaged investors in Cameroon and Gabon for its bond offering, SNPC 6.5% Net 2024-2029, set to close on February 27. This initiative, part of the Performance 2025 growth plan, aims to raise $5 billion for energy and infrastructure projects, with an initial target of $167 million. Additionally, the Congo Economic & Investment Forum will be held in March 2025 to discuss energy opportunities.

The Republic of Congo’s Société Nationale des Pétroles du Congo (SNPC) has recently engaged with investors in Douala, Cameroon, and Libreville, Gabon, to introduce its public bond offering. This bond, identified as SNPC 6.5% Net 2024-2029, has received approval from the Central African Financial Market Supervisory Commission and is scheduled for closure on February 27. Executives from SNPC emphasized the strategic necessity of this issuance to broaden the company’s investor base and finance critical projects.

As part of its Performance 2025 growth strategy, SNPC aims to acquire $5 billion from the regional financial market to propel investments in energy and infrastructure. The current bond offering represents the initial phase with a target of $167 million to facilitate drilling operations and enhance national production levels. The bond features a 6.5% net annual interest rate and a five-year tenure ending in 2029 and will be accessible via placement syndicates including LCB Capital and other recognized financial institutions.

In addition, the inaugural Congo Economic & Investment Forum is slated for March 24-26, 2025, in Brazzaville. This event, backed by President Denis Sassou Nguesso and the Ministry of Hydrocarbons alongside SNPC, aims to unite international investors with local stakeholders to explore opportunities in the national and regional energy and infrastructure sectors. Discussions will cover cutting-edge gas-to-power initiatives and provide updates on ongoing projects across the country.

In conclusion, the Republic of Congo’s SNPC is actively pursuing investors through a strategic bond issuance aimed at advancing its energy and infrastructure endeavors. The bond offering, with a targeted $167 million, is vital in the company’s broader goal of securing $5 billion for future investments. Furthermore, the upcoming Congo Economic & Investment Forum will serve as a platform to foster dialogue and collaboration among key stakeholders in the energy sector.

Original Source: energycapitalpower.com