Four groups in the run to become advisers for OGDCL bonds

Technical and financial proposals now invited.


April 14, 2011

ISLAMABAD:


The Privatisation Commission (PC) has received expressions of interest (EOIs) from four consortia for financial advisory services for issuance of Oil and Gas Development Company’s (OGDCL) exchangeable bonds.


The government holds 74.82 per cent of OGDCL shares and plans to float up to 10 per cent shares in the form of exchangeable bonds for international institutional investors, said a PC press release on Wednesday.

The four consortia that have submitted EOIs along with a non-refundable processing fee of $10,000 each include Bank of America/Merrill Lynch, Barclays Bank, Standard Chartered Bank and KASB Bank as the first consortium; HSBC, BNP Paribas, UBS Investment Bank, NIB Bank and National Bank of Pakistan as the second consortium; Citibank, JP Morgan, Credit Suisse and BMA as the third and Nomura, Deutsche Bank and Silkbank as the fourth consortium.

The consortia are being issued Request for Proposal (RFP) package for inviting technical and financial proposals, the statement said.

The statement further said that the transaction will be jointly led by at least two international book runners, who have recognised equity-linked sale, distribution and underwriting capabilities and demonstrable track record of successfully managing such issuances.

Published in The Express Tribune, April 14th,  2011.

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