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Sinopec Group issues 3 bln USD bonds globally

May 14, 2020


Abstract : China Petrochemical Corporation (Sinopec Group) issued 3 billion U.S. dollars worth of bonds globally, reported the Xinhua-run cnstock.com on Wednesday.

BEIJING, May 14 (Xinhua) -- China Petrochemical Corporation (Sinopec Group) issued 3 billion U.S. dollars worth of bonds globally, reported the Xinhua-run cnstock.com on Wednesday.

Citibank acted as the leading joint global coordinator, joint bookrunner, leading joint operator as well as clearing and settlement bank in this transaction.

In specific, the 1 billion dollars worth of 5-year bonds have been issued at a yield of 2.15 percent; the 1.5 billion dollars worth of 10-year bonds have been auctioned at a yield of 2.70 percent; the 500 million dollars of 30-year bonds have been issued at a yield of 3.35 percent. All of their prices have seen a significant narrowing as compared with the initial price guidance.

This is the largest investment-grade corporate bond issuance by Chinese issuers since 2020, which has boosted the confidence of international investors in Chinese issuers. (Edited by Zhang Yuan with Xinhua Silk Road, zhangyuan11@xinhua.org)

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Keyword: Sinopec bonds

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