Sinopec raises $5 bil­lion in dol­lar-de­nom­i­nated debt

China Daily (Canada) - - BUSINESS -

State-owned China Petro­chem­i­cal Corp, par­ent of Asia’s largest oil re­finer, has raised $5 bil­lion from the big­gest of­fer­ing of dol­lar-de­nom­i­nated notes by an Asian is­suer in more than a decade. The com­pany, known as Sinopec Group, sold notes with three-, five- and 10-year ma­tu­ri­ties, match­ing the amount is­sued in Novem­ber 2003 byHutchi­son Wham­poa Ltd. In­vestors in the United States bought 70 per­cent of Sinopec’s three-year fixed-rate notes, ac­cord­ing to a per­son fa­mil­iar with the mat­ter.

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