Sinopec rides bond wave with four-trancher

As part of the latest sale, the oil giant added a 30-year maturity after demand from investors during bookbuilding.

Sinopec, the world’s largest energy company by revenue, made a smooth return to the international bond market on Wednesday, selling a $3.4 billion four-tranche deal.

The 144AReg deal was launched on Wednesday morning, and bankers covered the entire book in the first few hours, according to two syndicate bankers running the deal. The peak order book reached $5.75 billion before the release of final price guidance, making it one of the most heavily-subscribed deals of the year.

The Aa3A rated company took advantage of a constructive market environment, with corporate bond yields in the region hovering near a record low. The Asia ex-Japan iTraxx...

¬ Haymarket Media Limited. All rights reserved.

FinanceAsia has updated its subscription model.

Registered readers now have the opportunity to read 5 articles from our award-winning website for free.

To obtain unlimited access to our award-winning exclusive news and analysis, we offer subscription packages, including single user, team (2-10 users), or office-wide licences.

To help you and your colleagues access our proprietary content, please contact us at subscriptions@financeasia.com, or +(852) 2122 5222

Article limit is reached.

Hello! You have used up all of your free articles on FinanceAsia.

To obtain unlimited access to our award-winning exclusive news and analysis, we offer subscription packages, including single user, team (2-10 users), or office-wide licences. To help you and your colleagues access our proprietary content, please contact us at subscriptions@financeasia.com, or +(852) 2122 5222