CNPC picks multiple banks for multiple bond tranches
China National Petroleum Corp (CNPC) — the first ever Chinese company to sell a dollar bond in the country’s domestic market — now plans to turn its attention to offshore investors instead. It has mandated a large group of banks to manage a multi-tranche deal.
Bank of China International, Bank of America Merrill Lynch, BNP Paribas, Citi, Deutsche Bank, ICBC, Morgan Stanley, Standard Chartered and UBS are among the banks said to have been mandated for the companys international bond debut, although few bankers would confirm the deal before an official announcement.
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