Congo’s state-owned Société Nationale des Pétroles du Congo (SNPC) has initiated a bond issuance to raise $158 million to strengthen its core activities.
Arranged by lead manager LCB Capital, the bond offers a 6.5% interest rate with a five-year maturity.
The bond marks the inaugural operation in SNPC’s securities issuance program as the company aims to bolster its drilling activities and significantly enhance national oil production to 500,000 barrels per day by 2027.
In compliance with sub-regional financial market regulations, SNPC secured authorization from the Central African Financial Market Supervisory Commission. According to SNPC’s Director General, Maixent Raoul Ominga, the program underscores the company’s ongoing commitment to sustainable development and the modernization of oil infrastructure.
Launched on December 23, 2024, the subscription period is set to conclude on February 27, 2025.
