Sinopec turns on tap for $500m financing

07 Aug 2012

China Petrochemical Corp (Sinopec) took advantage of the strong market tone on Monday to reopen its outstanding 10 year bond, which has heavily tightened since it was issued three months ago.

The company raised $500m from the reopening, and priced the deal at 145bp over Treasuries, in the middle of the final price guidance of between 143bp-147bp. That was just a basis point wider than where Sinopec’s outstanding $1bn 3.9% May 2022 bond was trading before the deal was ...

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