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Article: Debt Offerings Lead Capital Markets Action.
- Article from:
- The Oil Daily
- Article date:
- August 21, 1998
- Author:
CopyrightCOPYRIGHT 1998 Energy Intelligence Group. This material is published under license from the publisher through the Gale Group, Farmington Hills, Michigan. All inquiries regarding rights should be directed to the Gale Group. (Hide copyright information)
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Worldwide oil and gas companies were surprisingly active on capital markets in the second quarter despite low oil prices, a recent survey shows.
The study, by consultant John S. Herold Inc., says energy concerns raised roughly $19.2 billion in equity and debt markets -- the third largest quarterly total since Herold began tracking the figures in 1995.
Debt offerings continued to be the preferred method of raising capital, totaling some $8.6 billion in the quarter -- just $1 billion shy of the record amount posted in the first quarter of 1998.
Low interest rates and zero inflation continued to favor the market for debt, while depressed oil prices and low ...