COSL to guarantee USD 200m loan for subsidiary

China Oilfield Services Limited (COSL) [SSE:601808] announced that it will provide a guarantee of USD 200 million for its subsidiary, COSL Middle East FZE. The guarantee supports a revolving loan facility agreement between COSL Middle East FZE and the Hong Kong Branch of the Agricultural Bank of China. The guarantee period extends to June 8, 2026. As of the announcement date, the total amount of external guarantees provided by COSL and its subsidiaries is approximately CNY 51.36 billion, representing 115.6% of the company's latest audited net assets. The announcement noted that COSL Middle East FZE’s asset-liability ratio exceeds 70%, urging investors to pay attention to related risks. The company confirmed that there are no counter-guarantees related to this transaction, nor are there any overdue external guarantees.