Sinopec sells Asia's biggest bond since 2003

China’s largest refiner issued the multi-tranche $5 billion jumbo for refinancing and capital expenditure purposes while interest rates remain favourable.

Sinopec sells Asia's biggest bond since 2003

State-run China Petrochemical Corporation, also known as Sinopec Group, raised a $5 billion multi-tranche bond on April 2, taking advantage of the still-low interest rate environment to refinance its existing debt.

Sinopec’s transaction the biggest dollar bond in Asia since 2003 and the largest-ever by a Chinese issuer includes three fixed-rate tranches with three-, five- and 10-year tenors totaling $1.25 billion, $750 million, and $1 billion, respectively, according to a...

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