Roll up, roll up! Sinopec opens $2.5bn loan to all

Chinese state-owned Sinopec Group has launched a $2.5bn loan into general syndication and is tapping a wide array of banks to raise the funds. In doing so, it is taking a markedly different approach to other recent borrowers that have stuck to their core banking group and opted for club deals, writes Rashmi Kumar.

  • By Rashmi Kumar
  • 22 Nov 2013
Sinopec, also known as China Petrochemical Corp, hit the market early this week with the five year deal, pricing it at 123bp over dollar Libor with all-ins ranging from 130bp to 140bp, according to bankers on the deal. The pricing drew plaudits, but loans bankers were just as ...

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