Sinopec slides in for triple tranche dollar bond

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By Narae Kim
25 Apr 2016

Oil and gas giant China Petroleum & Chemical Corp (Sinopec) opened books for a 144A/Reg S triple-tranche dollar offering on Monday, taking advantage of a buoyant primary Asian bond market.

Joint global co-ordinators Bank of China, Citi, Goldman Sachs, HSBC and JP Morgan are taking orders for the Aa3/A+/A+ rated notes, split between a three year, five year and 10 year. The leads set initial guidance at 135bp over US Treasuries, 155bp over and 180bp over, respectively.

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