Sinopec issues $3.5bn dual-currency multi-trancher

Asia’s largest refiner sold a sizable triple-tranche dollar bond as well as a euro note at tighter pricing as yield-hungry global investors snap up the region’s debt, defying market fears of a potential US default.
Sinopec’s latest jumbo offering pushed the value of bonds this year in Asia ex-Japan, in US dollars, euros or yen to $126.9 billion.
Sinopec’s latest jumbo offering pushed the value of bonds this year in Asia ex-Japan, in US dollars, euros or yen to $126.9 billion.
October 10, 2013

Sinopec issued a $2.75 billion multi-tranche bond and a €550 million ($743 million) seven-year note on Wednesday, in the face of weaker Asian markets as sentiment continues to be hit by the US government shutdown.

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