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Market Chatter: Nexen Seeks to Amend $4 Billion of Bonds, Add Cnooc Guarantee

"Nexen Inc. (NXY, NXY.TO) is asking holders of almost $4 billion of bonds to amend the terms of the debt, allowing the Canadian energy company to remove some covenants and add Cnooc Ltd. as a guarantor," Bloomberg reported.

It said: "Nexen, which was bought by Cnooc for $15.1 billion, is seeking the consent from investors in eight securities worth $3.93 billion, according to a statement from the company. The borrower wants to delete or amend certain restrictive covenants, add a guarantee from Cnooc and include some terms relating to the Beijing-based company, it said in the statement, without elaborating on the nature of the covenants."

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The views and opinions expressed herein are the views and opinions of the author and do not necessarily reflect those of Nasdaq, Inc.

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