Banks circle Sinopec for dollar bond

Bankers are pitching Sinopec for a potential dollar bond as its bridge loan falls due for refinancing. Elsewhere, the Republic of Indonesia has kicked off a roadshow.

Banks have been circling China Petroleum and Chemical Corp, better known as Sinopec, for a potential US dollar bond. There are rumours that the company is eyeing a dollar bond with tenors of five, 10 and 30 years.

The state-linked company is China’s largest producer and supplier of refined oil products and major petrochemical products. It is an obvious candidate to tap the US dollar bond market after it bought a 9.03% equity interest in...

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