Sinopec triple-header fuels G3 bond markets

Chinese state-owned oil giant's latest dollar-denominated debt offering benefits from conducive market conditions after the Fed kept its interest rates unchanged.

Sinopec, the world’s largest energy company by revenue, made a slick re-entry into the international bond markets on Thursday with its second $3 billion bond deal of the year.

The Aa3A rated group took full advantage of the yield compression, which accompanied the Fed’s decision to leave interest rates unchanged on Wednesday, by executing an aggressively priced deal

Pricing was pushed through fair value on all three tranches of its new deal on the grounds investors should make money in the secondary market as spreads continue to grind tighter.

And investors appeared to agree, with the peak order book building to $5.5...

¬ 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