China Oilfield Services (HKG:2883, SHA:601808) issued 5 billion yuan of 1.95% guaranteed notes due 2029, according to a Tuesday Hong Kong bourse filing.

The notes were issued by unit COSL Singapore Capital and are unconditionally and irrevocably guaranteed by the company.

Interest will accrue from March 16 at an annual rate of 1.95% and will be paid semi-annually on March 16 and Sept. 16.

The oilfield services provider said it intends to use the net proceeds primarily to refinance existing debt and for general corporate purposes.